📝 One-liners · 66 cards
PAYMENT AND SETTLEMENT SYSTEMS ACT 2007
What is the primary objective of the Payment and Settlement Systems Act, 2007?
The Act provides for the regulation and supervision of payment systems in India and designates the Reserve Bank of India as the authority for this purpose.
Under the PSS Act 2007, who has the authority to authorise payment systems?
Reserve Bank of India has the authority to authorise.
Which authority is empowered to regulate and supervise payment systems under the PSS Act, 2007?
The Reserve Bank of India (RBI) is empowered to regulate and supervise all payment systems in India under the PSS Act, 2007.
What year was the Payment and Settlement Systems Act enacted in India?
The PSS Act was enacted in 2007.
🔒
Unlock 66 revision one-liners
Interactive flashcard deck — flip every card to drill questions and answers, mark the ones you got wrong, and revise smarter for PAYMENT AND SETTLEMENT SYSTEMS ACT 2007.
🪙
Unlock cost
300 coins
30-day access · re-unlocks free for 30 days