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Payment systems in India are authorised under which Act?

APSS Act, 2007
BPSS Act, 2005
CPSS Act, 2002
DPSS Act, 2011
Answer & Solution
Correct answer: A. PSS Act, 2007
1. The Directions rest on Chapter III of a statute. 2. They are issued under Section 10(2) read with Section 18. 3. That statute is the Payment and Settlement Systems Act, 2007. _Source: RBI Master Directions on Authorisation to operate a Payment System_
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