Power to carry out audit and inspection
Section 16 of the Payment and Settlement Systems Act, 2007 deals with power to carry out audit and inspection. The Reserve Bank may, for the purpose of carrying out its functions under this Act, conduct or get conducted audits and inspections of a payment system or participants thereof and it shall be the duty of the system provider and the system participants to assist the Reserve Bank to carry out such aud The Act came into force on 12 Aug 2008.
The Reserve Bank may, for the purpose of carrying out its functions under this Act, conduct or get conducted audits and inspections of a payment system or participants thereof and it shall be the duty of the system provider and the system participants to assist the Reserve Bank to carry out such audit or inspection, as the case may be.
Section 16, The Payment and Settlement Systems Act, 2007 (Act 51 of 2007).
Questions about Section 16
What does Section 16 of the Payment and Settlement Systems Act deal with?
Section 16 of the Payment and Settlement Systems Act is headed "Power to carry out audit and inspection". The Reserve Bank may, for the purpose of carrying out its functions under this Act, conduct or get conducted audits and inspections of a payment system or participants thereof and it shall be the duty of the system provider and the system participants to assist the Reserve Bank to carry out such aud
How do I find court cases under Section 16 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 16, section 16 Payment and Settlement Systems Act, section 16 of the Payment and Settlement Systems Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
When did Section 16 of the Payment and Settlement Systems Act come into force?
Section 16 of the Payment and Settlement Systems Act, cited as Payment and Settlement Systems Act 16, 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
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 20 Oct 2026. This page is not a substitute for legal advice.