Payment and Settlement Systems Acr : Inquiry by the Reserve Bank. Indian Bare Acts :

Payment and Settlement Systems Acr,2007

Act No : 51

Section : Inquiry by the Reserve Bank.

6. 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 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.