Power of Reserve Bank to give directions generally
Section 18 of the Payment and Settlement Systems Act, 2007 deals with power of Reserve Bank to give directions generally. Without prejudice to the provisions of the foregoing, the Reserve Bank may, if it is satisfied that for the purpose of enabling it to regulate the payment systems or in the interest of management or operation of any of the payment systems or in public interest, it is necessary so to do, lay down pol The Act came into force on 12 Aug 2008.
Without prejudice to the provisions of the foregoing, the Reserve Bank may, if it is satisfied that for the purpose of enabling it to regulate the payment systems or in the interest of management or operation of any of the payment systems or in public interest, it is necessary so to do, lay down policies relating to the regulation of payment systems including electronic, non-electronic, domestic and international payment systems affecting domestic transactions and give such directions in writing as it may consider necessary to system providers or the system participants or any other person either generally or to any such agency and in particular, pertaining to the conduct of business relating to payment systems.
Section 18, The Payment and Settlement Systems Act, 2007 (Act 51 of 2007).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Referred to by 3
- Income-tax Rules s. 114B [Transactions in relation to which permanent account number is to be quoted in all documents for the purpose of clause (c) of sub-section (5) of section 139A
- Income-tax Rules s. 114E [Furnishing of statement of financial transaction
- Income-tax Rules s. 237 Furnishing of statement of financial transaction
Questions about Section 18
What does Section 18 of the Payment and Settlement Systems Act deal with?
Section 18 of the Payment and Settlement Systems Act is headed "Power of Reserve Bank to give directions generally". Without prejudice to the provisions of the foregoing, the Reserve Bank may, if it is satisfied that for the purpose of enabling it to regulate the payment systems or in the interest of management or operation of any of the payment systems or in public interest, it is necessary so to do, lay down pol
How do I find court cases under Section 18 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 18, section 18 Payment and Settlement Systems Act, section 18 of the Payment and Settlement Systems Act. People searching for it also type payment and settlement systems act 2007 section 18 and section 18 of payment and settlement systems act 2007 act 51 of 2007. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 18 of the Payment and Settlement Systems Act, and has it changed?
3 other provisions in this corpus refer back to it.
When did Section 18 of the Payment and Settlement Systems Act come into force?
Section 18 of the Payment and Settlement Systems Act, cited as Payment and Settlement Systems Act 18, 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 16 Oct 2026. This page is not a substitute for legal advice.