Act Number: 51

Act Name: The Payment and Settlement Systems Act, 2007

Year: 2007

Enactment Date: 2007-12-20

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 29: Application of fine.
    A court imposing any fine under this Act may direct that the whole or any part thereof shall be applied in, or towards payment of, the costs of the proceedings.
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