Payment and Settlement Systems (Amended) Regulations, 2008
Payment and Settlement Systems Regulations, 2008
(As amended upto February 2022)
In exercise of the powers conferred by sub-section (1) read with clauses (b) to (f) of subsection (2) of Section 38 of the Payment and Settlement Systems Act, 2007 (51 of 2007), the Reserve Bank of India hereby makes the following regulations, namely :-
Chapter I
Preliminary
- Short title and commencement :-
(1) These Regulations may be called the Payment and Settlement Systems Regulations, 2008.
(2) They shall come into force on the date of their publication in the Official Gazette. - Definitions :-
(1) In these regulations, unless, the context otherwise requires :-
(a) ‘Act’ means the Payment and Settlement Systems Act, 2007 (51 of 2007);
(b) ‘Bank’ means the Reserve Bank of India constituted by the Reserve Bank of India Act, 1934 (2 of 1934);
(c) ‘Authorisation Certificate’ means the certificate containing the authorisation issued by the Bank under sub-section (1) of Section 7 of the Act.
(2) All other words and expressions used herein and not defined, but defined in the Act or the Reserve Bank of India Act, 1934 (2 of 1934) shall have the meanings respectively assigned to them in those Acts.
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