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Payment and Settlement System Act 2007
What is the primary objective of the Payment and Settlement Systems Act, 2007?
The PSS Act, 2007 aims 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.
In which year was the Payment and Settlement Systems Act enacted in India?
The PSS Act was enacted in 2007.
Which authority is empowered to regulate and supervise payment systems under the PSS Act, 2007?
The Reserve Bank of India (RBI) is the designated authority empowered to regulate and supervise payment systems in India under the PSS Act, 2007.
Under which Ministry does the PSS Act, 2007 fall for legislative oversight?
It falls under the Ministry of Finance, Government of India.
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