Every officer of the Reserve Bank who has been entrusted with any power under this Act, shall be deemed to be a public servant within the meaning of section 21 of the Indian Penal Code (45 of 1860).
Simplified Explanation
This section of the Payment and Settlement Systems Act, 2007 designates officers of the Reserve Bank of India (RBI) who have been entrusted with any power under this Act as public servants.
Key Provisions:
- Officers of the Reserve Bank:
- The section specifically applies to officers of the Reserve Bank of India who have been given powers or responsibilities under this Act.
- Deemed Public Servants:
- These officers are considered public servants as defined in Section 21 of the Indian Penal Code (IPC), 1860.
- Reference to IPC:
- Section 21 of the IPC defines a public servant as any person in the service or pay of the government or holding a public office, which includes government officials with duties in relation to public welfare.
Practical Implications:
- Legal Status:
- Officers of the RBI who are involved in implementing or enforcing the provisions of the Payment and Settlement Systems Act are officially recognized as public servants.
- Accountability:
- As public servants, these officers are subject to the legal framework that governs public servants, including provisions for corruption and misconduct under the Indian Penal Code.
- Protection and Liability:
- By designating these officers as public servants, the Act ensures that they are protected in their capacity as enforcers of the law while also making them accountable for their actions under the relevant legal provisions.
Conclusion:
Section 35 ensures that RBI officers entrusted with powers under the Payment and Settlement Systems Act are recognized as public servants, thereby subjecting them to the obligations and protections under Section 21 of the IPC. This designation reinforces their official status and accountability in the enforcement of financial regulations.
