Request a Demo

By clicking Submit, you acknowledge that you have read and agree with the Privacy Policy
Contact Info
Unit 266, 267 & 268, Tower B1, Spaze Itech Park Sohna Road Gurugram, Haryana 122018 connect@complinity.com +91 8181 900 600
Follow Us

A Multi-Concept Theme for Digital Agencies and Startups

8181 900 600 Request a Demo Login
logo dark logo light logo
  • Products
    • Compliance Management Software
    • Contract Management Software
    • Secretarial Compliance Software
    • Litigation Management Software
    • Audit Management Software
    • Internal Financial Control Software
    • Enterprise Risk Management Software
  • Pricing
  • Industries
    • Pharmaceutical
    • Hospitality
    • BFSI
    • Manufacturing
    • NBFC
    • Renewable Energy
    • Agriculture
    • ITeS
    • Real Estate
    • Automobile
  • Legal Updates
  • Blogs
  • Videos
  • Downloads
  • Careers
Contact Sales
logo dark logo light logo
  • Products
    • Compliance Management Software
    • Contract Management Software
    • Secretarial Compliance Software
    • Litigation Management Software
    • Audit Management Software
    • Internal Financial Control Software
    • Enterprise Risk Management Software
  • Pricing
  • Industries
    • Pharmaceutical
    • Hospitality
    • BFSI
    • Manufacturing
    • NBFC
    • Renewable Energy
    • Agriculture
    • ITeS
    • Real Estate
    • Automobile
  • Legal Updates
  • Blogs
  • Videos
  • Downloads
  • Careers
Contact Sales
Mobile Logo
  • Products
    • Compliance Management Software
    • Contract Management Software
    • Secretarial Compliance Software
    • Litigation Management Software
    • Audit Management Software
    • Internal Financial Control Software
    • Enterprise Risk Management Software
  • Pricing
  • Industries
    • Pharmaceutical
    • Hospitality
    • BFSI
    • Manufacturing
    • NBFC
    • Renewable Energy
    • Agriculture
    • ITeS
    • Real Estate
    • Automobile
  • Legal Updates
  • Blogs
  • Videos
  • Downloads
  • Careers
Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

RBI issues FAQs on Payment and Settlement Systems Act, 2007

20-Oct-2025 | NA

RBI has issued FAQS on Payment and Settlement Systems Act, 2007 and exercises its powers through the Payments Regulatory Board (PRB). Key Highlights: 1. Applicability - The Act applies to all systems that enable fund transfers, clearing, and settlements, such as UPI, NEFT, RTGS, card networks, wallets, and remittance systems. It excludes stock exchanges and their clearing corporations. 2. Authorization Requirement - No entity, whether Indian or foreign, can operate or start a payment system without prior authorization from the RBI, and must apply in the prescribed format with a fee of Rs. 10,000. 3. Regulatory Powers of RBI - RBI can frame regulations, issue directions, conduct inspections, and collect information from system providers, set operational standards such as message formats, settlement timings, and membership criteria, and has the authority to refuse, revoke, or suspend authorization if a provider violates the Act or RBI directions. 4. Duties of System Providers - System providers must disclose charges, terms, and rules to all participants clearly further should protect participant data and maintain confidentiality. 5. Dispute Resolution - Disputes among system participants must first be handled by an internal panel formed by the system provider. 6. Penalties and Offences - The Act prescribes penalties for unauthorized operations, false reporting, non-compliance, and violation of RBI directions. RBI can impose fines or initiate prosecution against violators. For more information, please refer to the attached document.

Upgrade to paid version to access the Notification, Circular & Rules along with the checklist

Get Legal Updates in your email

Request a Demo

Recent Posts in Corporate Laws

Corporate Laws

IFSCA issues Master Circular for recognised Stock Exchanges and recognised Clearing Corporations

05-Jun-2026 | IFSCA/CMD/MIIT/MCSECC/2026-27

IFSCA has issued Master Circular for recognised Stock Exchanges and recognised Clearing Corporations Key highlights of this circular are: 1

Read More
Corporate Laws

RBI issues circular regarding Investments by Foreign Portfolio Investors in Government Securities

05-Jun-2026 | RBI/2026-27/97

RBI has issued circular regarding Investments by Foreign Portfolio Investors in Government Securities Key highlights of this circular are:

Read More
Corporate Laws

CERSAI issues notification regarding CKYCRR 2.0 API integration & Reporting entity onboarding guide

05-Jun-2026 | CKYC/NOTIF/2026/01

CERSAI has issued notification regarding CKYCRR 2.0 API integration & Reporting entity onboarding guide Through this notification, 2.0 vers

Read More
Corporate Laws

FEMA issues Foreign Exchange Management (Export of Goods and Services) (First Amendment) Regulations, 2026

05-Jun-2026 | Notification No. FEMA 23(R)/(8)/2026-RB

FEMA has issued Foreign Exchange Management (Export of Goods and Services) (First Amendment) Regulations, 2026 Through this notification, u

Read More

Recent Posts

Corporate Laws

IFSCA issues Master Circular for recognised Stock Exchanges and recognised Clearing Corporations

05-Jun-2026 | IFSCA/CMD/MIIT/MCSECC/2026-27

IFSCA has issued Master Circular for recognised Stock Exchanges and recognised Clearing Corporations Key highlights of this circular are: 1

Read More
Corporate Laws

RBI issues circular regarding Investments by Foreign Portfolio Investors in Government Securities

05-Jun-2026 | RBI/2026-27/97

RBI has issued circular regarding Investments by Foreign Portfolio Investors in Government Securities Key highlights of this circular are:

Read More
Corporate Laws

CERSAI issues notification regarding CKYCRR 2.0 API integration & Reporting entity onboarding guide

05-Jun-2026 | CKYC/NOTIF/2026/01

CERSAI has issued notification regarding CKYCRR 2.0 API integration & Reporting entity onboarding guide Through this notification, 2.0 vers

Read More
Corporate Laws

FEMA issues Foreign Exchange Management (Export of Goods and Services) (First Amendment) Regulations, 2026

05-Jun-2026 | Notification No. FEMA 23(R)/(8)/2026-RB

FEMA has issued Foreign Exchange Management (Export of Goods and Services) (First Amendment) Regulations, 2026 Through this notification, u

Read More
Request a Demo

Request a Demo

By clicking Submit, you acknowledge that you have read and agree with the Privacy Policy

Complinity Logo Transparent

Complinity is a comprehensive cloud-based Compliance Management Software that helps track and monitor statutory and regulatory compliances.

Quick Links
  • Compliance Software
  • Regulatory Compliance Software
  • Statutory Compliance Software
  • Compliance Tracking Software
  • Legal Updates
Contact Info
Unit 266, 267 & 268, Tower B1
Spaze Itech Park, Sohna Road
Gurugram, Haryana 122018
connect@complinity.com
+91 8181 900 600

Request a Demo

© 2026 Complinity Technologies Private Limited. | Privacy Policy | Data Processing Addendum

Design & Developed By  Infinite IT Solutions

Request a Demo

By clicking Submit, you acknowledge that you have read and agree with the Privacy Policy
Powered by EssentialPlugin

Request a Demo

By clicking Submit, you acknowledge that you have read and agree with the Privacy Policy

Thank You for your interest in Complinity. Your CV has been forwarded to HR.
In case your profile is shortlisted, HR shall contact you.