(1) This Act may be called the Payment and Settlement Systems Act, 2007.

(2) It extends to the whole of India.

(3) It shall come into force on such date¹ as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act, and any reference to the commencement in any such provision of this Act shall be construed as a reference to the commencement of that provision.

1. 12th August, 2008, vide notification No. S.O. 2032(E), dated 12th August, 2008, see Gazette of India, Extraordinary, Part II, sec. 3(ii).