Inquiry by the Reserve Bank
Section 6 of the Payment and Settlement Systems Act, 2007 deals with inquiry by the Reserve Bank. After the receipt of an application under section 5, and before an authorisation is issued under this Act, the Reserve Bank may make such inquiries as it may consider necessary for the purpose of satisfying itself about the genuineness of the particulars furnished by the applicant, his capacity to o The Act came into force on 12 Aug 2008.
After the receipt of an application under section 5, and before an authorisation is issued under this Act, the Reserve Bank may make such inquiries as it may consider necessary for the purpose of satisfying itself about the genuineness of the particulars furnished by the applicant, his capacity to operate the payment system, the credentials of the participants or for any other reason and when such an inquiry is conducted by any person authorised by it in this behalf, it may require a report from such person in respect of the inquiry.
Section 6, The Payment and Settlement Systems Act, 2007 (Act 51 of 2007).
Cross-references
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Questions about Section 6
What does Section 6 of the Payment and Settlement Systems Act deal with?
Section 6 of the Payment and Settlement Systems Act is headed "Inquiry by the Reserve Bank". After the receipt of an application under section 5, and before an authorisation is issued under this Act, the Reserve Bank may make such inquiries as it may consider necessary for the purpose of satisfying itself about the genuineness of the particulars furnished by the applicant, his capacity to o
How do I find court cases under Section 6 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 6, section 6 Payment and Settlement Systems Act, section 6 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.
What should I read with Section 6 of the Payment and Settlement Systems Act, and has it changed?
Its own text turns on section 5 (Application for authorisation), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.
When did Section 6 of the Payment and Settlement Systems Act come into force?
Section 6 of the Payment and Settlement Systems Act, cited as Payment and Settlement Systems Act 6, 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.