Payment and Settlement Systems Act
An Act to provide for the regulation and supervision of payment systems in India and to designate the Reserve Bank of India as the authority for that purpose and for matters connected therewith or incidental thereto.
-
Payment and Settlement Systems Act: Section 19 – Directions of Reserve Bank to be complied with
Every person to whom a direction has been issued by the Reserve Bank under this Act shall comply with such…
Read More » -
Payment and Settlement Systems Act: Section 20 – System provider to act in accordance with the Act, regulations, etc.
Every system provider shall operate the payment system in accordance with the provisions of this Act, the regulations, the contract…
Read More » -
Payment and Settlement Systems Act: Section 18 – Power of Reserve Bank to give directions generally
Without prejudice to the provisions of the foregoing, the Reserve Bank may, if it is satisfied that for the purpose…
Read More » -
Payment and Settlement Systems Act: Section 17 – Power to issue directions
Where the Reserve Bank is of the opinion that,– (a) a payment system or a system participant is engaging in,…
Read More » -
Payment and Settlement Systems Act: Section 16 – Power to carry out audit and inspection
The Reserve Bank may, for the purpose of carrying out its functions under this Act, conduct or get conducted audits…
Read More » -
Payment and Settlement Systems Act: Section 15 – Information, etc., to be confidential
(1) Subject to the provisions of sub-section (2), any document or information obtained by the Reserve Bank under sections 12…
Read More » -
Payment and Settlement Systems Act: Section 14 – Power to enter and inspect
Any officer of the Reserve Bank duly authorised by it in writing in this behalf, may for ensuring compliance with…
Read More » -
Payment and Settlement Systems Act: Section 13 – Access to information
The Reserve Bank shall have right to access any information relating to the operation of any payment system and system…
Read More » -
Payment and Settlement Systems Act: Section 12 – Power to call for returns, documents or other information
The Reserve Bank may call for from any system provider such returns or documents as it may require or other…
Read More » -
Payment and Settlement Systems Act: Section 11 – Notice of change in the payment system
(1) No system provider shall cause any change in the system which would affect the structure or the operation of…
Read More »