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 10A: Bank, etc., not to impose charge for using electronic modes of payment.
    1[10A. Bank, etc., not to impose charge for using electronic modes of payment.--Notwithstanding anything contained in this Act, no bank or system provider shall impose, whether directly or indirectly, any charge upon a person making or receiving a payment by using the electronic modes of payment prescribed under section 269SU of the Income-tax Act, 1961 (43 of 1961).]
Notes:
1. Ins. by Act 23 of 2019, s. 204 (w.e.f. 1-11-2019).
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