Question
What are the conditions under which a system provider
can make changes to the structure or operation of a payment system as per the Payment and Settlement Systems Act?Solution
Section 11. Notice of change in the payment system.—(1) No system provider shall cause any change in the system which would affect the structure or the operation of the payment system without— (a) the prior approval of the Reserve Bank; and (b) giving notice of not less than thirty days to the system participants after the approval of the Reserve Bank: Provided that in the interest of monetary policy of the country or in public interest, the Reserve Bank may permit the system provider to make any changes in a payment system without giving notice to the system participants under clause (b) or requiring the system provider to give notice for a period longer than thirty days.
The 'Third-Party Liability' cover in a motor insurance policy is mandatory in India as per the:
The Private equity investors shall not hold more than _________ percent of the paid up equity share capital of the Indian insurance company.
A form of life insurance coverage payable to a third party lender/mortgagee upon the death of the insured/mortgagor for loss of loan payments is termed as?
What is the insurance of commercial property that protects the property from such perils as fire, theft and natural disaster?
With the implementation of the 'National Green Hydrogen Mission,' India's Green Hydrogen production capacity is likely to reach at least ______ per annum
The insurance is listed in which schedule to the Constitution of India?
The central office of the Life Insurance Corporation of India (LIC) is located at?
Which of the following is NOT a factor that affects the premium of a motor insurance policy?
Which of these changes would typically require an endorsement?
The primary categories of insurance business in India are:
