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TypeBare Act JurisdictionCentral Government

Payment and Settlement Systems Act, 2007 Section 17

Power to issue directions.—Where the Reserve Bank is of the opinion that,—

~1 min read
https://sooperkanoon.com/act/462462

Bare act section · Research

About this section

Payment and Settlement Systems Act, 2007 Section 17 is part of Payment and Settlement Systems Act, 2007 - Power to issue directions.—Where the Reserve Bank is of the opinion that,—. Read the section text below and explore Indian court judgments that cite it.

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Section Text

(a) a payment system or a system participant is engaging in, or is about to engage in, any act, omission or course of conduct that results, or is likely to result, in systemic risk being inadequately controlled; or (b) any action under clause (a) is likely to affect the payment system, the monetary policy or the credit policy of the country, the Reserve Bank may issue directions in writing to such payment system or system participant requiring it, within such time as the Reserve Bank may specify— (i) to cease and desist from engaging in the act, omission or course of conduct or to ensure the system participants to cease and desist from the act, omission or course of conduct; or (ii) to perform such acts as may be necessary, in the opinion of the Reserve Bank, to remedy the Section 18 - situation

Frequently asked questions

What does Payment and Settlement Systems Act, 2007 Section 17 provide?

Section Section 17 of the Payment and Settlement Systems Act, 2007 (Power to issue directions.—Where the Reserve Bank is of the opinion that,—) is reproduced on this page as part of the Payment and Settlement Systems Act, 2007. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Payment and Settlement Systems Act, 2007 Section 17?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Payment and Settlement Systems Act, 2007 Section 17. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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