# The Payment and Settlement Systems Act, 2007, Section 5: Application for authorisation

- Act: The Payment and Settlement Systems Act, 2007 (Act 51 of 2007)
- In force from: 2008-08-12
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/payment-settlement-systems-act-2007/section/5/

## Text

(1) Any person desirous of commencing or carrying on a payment system may apply to the Reserve Bank for an authorisation under this Act. (2) An application under sub-section (1) shall be made in such form and in such manner and shall be accompanied by such fees as may be prescribed.

---
Published by eCourtsIndia together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957.