Short title, extent and commencement

In force From 12 Aug 2008 Act 51 of 2007 As on 15 Oct 2026

Act 51 of 2007 Ministry Finance Enacted 20 Dec 2007 In force 12 Aug 2008

Section 1 of the Payment and Settlement Systems Act, 2007 deals with short title, extent and commencement. This Act may be called the Payment and Settlement Systems Act, 2007. The Act came into force on 12 Aug 2008.

(1) This Act may be called the Payment and Settlement Systems Act, 2007.
(2) It extends to the whole of India.
(3) It shall come into force on such date¹ as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act, and any reference to the commencement in any such provision of this Act shall be construed as a reference to the commencement of that provision.
Section 1, The Payment and Settlement Systems Act, 2007 (Act 51 of 2007).

Questions about Section 1

What does Section 1 of the Payment and Settlement Systems Act deal with?

Section 1 of the Payment and Settlement Systems Act is headed "Short title, extent and commencement". This Act may be called the Payment and Settlement Systems Act, 2007.

How do I find court cases under Section 1 of the Payment and Settlement Systems Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Payment and Settlement Systems Act 1, section 1 Payment and Settlement Systems Act, section 1 of the Payment and Settlement Systems Act. People searching for it also type payment and settlement systems act 2007 section 25 1. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

When did Section 1 of the Payment and Settlement Systems Act come into force?

Section 1 of the Payment and Settlement Systems Act, cited as Payment and Settlement Systems Act 1, came into force on 12 Aug 2008, having been enacted on 20 Dec 2007. It is in force as at the date shown on this page.

Other sections of this Act

2. Definitions926 words
23. Settlement and netting655 words
26. Penalties560 words
33. Mode of recovery of penalty558 words
25. Dishonour of electronic funds transfer for insufficiency, etc., of funds in the account445 words
23A. Protection of funds collected from customers434 words

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 15 Oct 2026. This page is not a substitute for legal advice.