Section 5: Application for authorisation.

Q: What does Section 5 of The Payment and Settlement Systems Act, 2007 (TPSSA) deal with?

Section 5 TPSSA pertains to "Application for authorisation.". It is part of the The Payment and Settlement Systems Act, 2007, a legislation enacted by the Parliament of India. Section 5 of The Payment and Settlement Systems Act, 2007 (TPSSA) governs application for authorisation. As verified on 19 May 2026.

Q: Is Section 5 TPSSA still in force?

Yes, Section 5 of the The Payment and Settlement Systems Act, 2007 is currently in force across the Republic of India.

Q: What is धारा 5 TPSSA?

धारा 5 TPSSA is the Devanagari Hindi reference for Section 5 of the The Payment and Settlement Systems Act, 2007. Section 5 of The Payment and Settlement Systems Act, 2007 (TPSSA) governs application for authorisation. As verified on 19 May 2026.

Q: What is Dhara 5 TPSSA?

Dhara 5 TPSSA is the Roman Hindi reference for Section 5 of the The Payment and Settlement Systems Act, 2007. "Dhara" means "Section" in Hindi. Section 5 of The Payment and Settlement Systems Act, 2007 (TPSSA) governs application for authorisation. As verified on 19 May 2026.

Q: How to cite Section 5 of The Payment and Settlement Systems Act, 2007?

Cite as: "Section 5, The Payment and Settlement Systems Act, 2007 (TPSSA)" in legal briefs. For academic writing, use the BlueBook format: The Payment and Settlement Systems Act, 2007, § 5 (India).

Law on Tips Editorial Board

(1) Any person desirous of commencing or carrying on a payment system may apply to the Reserve Bank for an authorisation under this Act.

(2) An application under sub-section (1) shall be made in such form and in such manner and shall be accompanied by such fees as may be prescribed.