Section 6
Inquiry by the Reserve Bank.
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.
After the receipt of an application under section 5, and before an
authorisation is issued under this Act, the Reserve Bank may make such inquiries as it may consider
necessary for the purpose of satisfying itself about the genuineness of the particulars furnished by the
applicant, his capacity to operate the payment system, the credentials of the participants or for any other
reason and when such an inquiry is conducted by any person authorised by it in this behalf, it may require
a report from such person in respect of the inquiry.