Section 20
System provider to act in accordance with the Act, regulations, etc.
The Payment and Settlement Systems Act, 2007
About this Act
An Act to provide for the regulation and supervision of payment systems in India and to designate the Reserve Bank of India as the authority for that purpose and for matters connected therewith or incidental thereto.
Every system provider
shall operate the payment system in accordance with the provisions of this Act, the regulations, the
contract governing the relationship among the system participants, the rules and regulations which deal
with the operation of the payment system and the conditions subject to which the authorisation is issued,
and the directions given by the Reserve Bank from time to time.