Statutory definitions for payment and settlement systems align undefined terms with governing financial-services legislation and regulatory instruments. Definitions for payment and settlement systems in International Financial Service Centres specify the Act, Authorisation Certificate, Authority, Board and ... Summary
Statutory definitions for payment and settlement systems align undefined terms with governing financial-services legislation and regulatory instruments.
Definitions for payment and settlement systems in International Financial Service Centres specify the Act, Authorisation Certificate, Authority, Board and International Financial Service Centre. Board means the Payments Regulatory Board. Undefined expressions adopt their meanings under the Payment and Settlement Systems Act, Reserve Bank of India Act, Banking Regulation Act, International Financial Services Centres Authority Act, and related instruments, including statutory modifications or re-enactments. The revised Board definition replaced the earlier Authority committee reference.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.