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    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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