AMENDMENTS TO CERTAIN ACTS TO PROVIDE FOR MERGER OF TRIBUNALS AND OTHER AUTHORITIES AND CONDITIONS OF SERVICE OF CHAIRPERSONS, MEMBERS, ETC.Finance Act, 2017
AMENDMENTS TO CERTAIN ACTS TO PROVIDE FOR MERGER OF TRIBUNALS AND OTHER AUTHORITIES AND CONDITIONS OF SERVICE OF CHAIRPERSONS, MEMBERS, ETC.Finance Act, 2017
Designated authority for payment systems established; Payments Regulatory Board to exercise regulatory powers and set procedures. The amendment vests regulation and supervision of payment systems in the central bank to be exercised through a Payments Regulatory Board, and establishes ... Summary
Designated authority for payment systems established; Payments Regulatory Board to exercise regulatory powers and set procedures.
The amendment vests regulation and supervision of payment systems in the central bank to be exercised through a Payments Regulatory Board, and establishes the Board's composition-Governor as Chairperson, specified ex officio members and three persons nominated by the central government-and provides that the Board's powers, functions, meeting procedures (including quorum), and other incidental matters shall be prescribed.
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