Reply To: Overview of Payment Systems in India-Notes By RBI

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advtanmoy
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Payment and Settlement Systems in Srilanka, Legal Framework

The Payment and Settlement Systems Act. No. 28 of 2005 (PSSA) provides for the regulation, supervision and monitoring of payments, clearing and settlement systems, the regulation of providers of money services and the electronic presentment of cheques in Sri Lanka. 

Payment Card and Mobile Payment Systems Regulations No. 1 of 2013, which was issued under PSSA, provides for the regulations of issuers of payment cards, financial acquirers of payment cards, operators of customer account based mobile payment systems and operators of mobile phone based e-money systems.