Section 9 of The Payment and Settlement Systems Act, 2007
- (1)Any applicant for an authorisation whose application for the operation of the payment system is refused under sub-section (3) of section 7 or a system provider who is aggrieved by an order of revocation under section 8 may, within thirty days from the date on which the order is communicated to him, appeal to the Central Government.
- (2)The Central Government shall endeavour to dispose of an appeal under sub-section (1) within a period of three months.
- (3)The decision of the Central Government on the appeal under sub-section (1) shall be final.
Summary
- If your application for a payment system is rejected or your license is cancelled, you can appeal the decision.
- Appeals are made to the Central Government of India.
- You have exactly thirty days from the day you receive the order to file your appeal.
- The Central Government tries to resolve and finish the appeal within three months.
- Once the Central Government makes a decision on the appeal, that decision is final.
Practical examples
FAQ
1. Who do I complain to if the Reserve Bank rejects my payment system?
You can file an appeal with the Central Government.
2. How long do I have to file an appeal?
You must file the appeal within thirty days from the date the order was communicated to you.
3. Can I go to court if the Central Government also rejects my appeal?
According to this Act, the decision of the Central Government on the appeal is final.
Test yourself
Q1.Under Section 9 of The Payment and Settlement Systems Act, 2007, what is the deadline for filing an appeal after receiving a refusal or revocation order?
Q2.Under Section 9 of The Payment and Settlement Systems Act, 2007, an appeal against a revocation order issued under which other section can be filed?
Q3.If an applicant's request is refused under Section 7(3) of The Payment and Settlement Systems Act, 2007, who is the authorised body to hear their appeal under Section 9?
Q4.Under Section 9 of The Payment and Settlement Systems Act, 2007, what is the intended timeframe for the Central Government to dispose of an appeal?