Question

Who is the designated authority for the regulation and supervision of payment systems under the Payment and Settlement Systems Act?

A Ministry of Finance Correct Answer Incorrect Answer
B Securities and Exchange Board of India Correct Answer Incorrect Answer
C Reserve Bank of India Correct Answer Incorrect Answer
D Ministry of Commerce and Industry Correct Answer Incorrect Answer
E Insurance Regulatory and Development Authority of India Correct Answer Incorrect Answer

Solution

Section 3 Designated authority-(1) The Reserve Bank shall be the designated authority for the regulation and supervision of payment systems under this Act.

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