Section 21
Duties of a system provider.
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.
(1) Every system provider shall disclose to the existing or
potential system participants, the terms and conditions including the charges and the limitations of
liability under the payment system, supply them with copies of the rules and regulations governing the
operation of the payment system, netting arrangements and other relevant documents.
(2) It shall be the duty of every system provider to maintain the standards determined under this Act.
(2) It shall be the duty of every system provider to maintain the standards determined under this Act.