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A Payment System Operator has the meaning given for a system:

APractitioner
BPredecessor
CParticipant
DProprietor
Answer & Solution
Correct answer: C. Participant
1. The definition points to clause (p) of Section 2(1). 2. It borrows a term already in the PSS Act. 3. That term is System Participant. _Source: RBI Master Directions on Authorisation to operate a Payment System_
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