Question : The National Payments Corporation of India was set up under the provisions of which Act?
Option 1: The SARFAESI Act, 2002
Option 2: Payment and Settlement Systems Act, 2007
Option 3: Government Securities Act, 2006
Option 4: Companies Act, 2013
Correct Answer: Payment and Settlement Systems Act, 2007
Solution : The correct option is the Payment and Settlement Systems Act, of 2007 .
The Payment and Settlement Systems Act of 2007 provides the legal framework for the regulation and supervision of payment systems in India. It empowers the Reserve Bank of India (RBI) to regulate and oversee payment and settlement systems in the country.
The NPCI operates under the regulatory framework established by the RBI, but its specific establishment is governed by the Companies Act.
College Comparison based on Courses, Placement, Rank, Fee
Result | Eligibility | Application | Admit Card | Answer Key | Preparation Tips | Cutoff
Eligibility | Application | Admit Card | Result | Preparation Tips | Exam Pattern | Selection Process
Question : What is the full form of NPCI, which is an umbrella organization for all retail payment systems in India?
Question : Which among the following is the sole note-issuing authority in India?
Question : The Constituent Assembly of India was set up under the:
Question : Which of the following acts prevents disrespect to the national flag and national anthem?
Question : Which among the following was set up in 1956 by the Indian Government by nationalising all the existing private sector life insurance companies?
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile