Payment and Settlement System Act, 2007

This edition of The Payment and Settlement System Act, 2007 (Act 51 of 2007) presents the authoritative bare text of the law governing payment and settlement systems in India, updated with all amendments brought into force up to the Jan Vishwas (Amendment of Provisions) Act, 2023 (Act 18 of 2023, dated 11-8-2023). Designed as a precise and dependable legal reference, the book reproduces the statutory provisions exactly as enacted, without interpretation or extensive commentary, making it especially suitable for examination and professional use.

The publication comprehensively incorporates the core framework of the Act along with allied regulatory materials, including:
• Provisions relating to regulation and supervision of payment systems by the Reserve Bank of India
• Establishment, powers, and functions of the Board for Regulation and Supervision of Payment and Settlement Systems
• Authorization, regulation, and oversight of payment system operators
• Settlement finality, netting arrangements, and dispute resolution mechanisms
• Penalties, offences, and enforcement procedures under the Act
• The Payment and Settlement Systems Regulations, 2008
• Relevant and updated notifications issued from time to time

This bare act edition is particularly useful for:
• Law students seeking a current and accurate statutory text
• Banking, finance, and fintech professionals dealing with payment systems regulation
• Legal practitioners and in-house counsel handling regulatory and compliance matters
• Academicians and researchers requiring an up-to-date legislative reference

Updated for 2026, this volume ensures full alignment with the latest legislative and regulatory developments in India’s payment and settlement ecosystem, offering a clear, concise, and reliable presentation of the law as it stands today.