Payment and Settlement Systems Act, 2007
E161587
The Payment and Settlement Systems Act, 2007 is an Indian law that provides a legal framework for the regulation, supervision, and oversight of payment and settlement systems in the country, primarily under the authority of the Reserve Bank of India.
All labels observed (5)
How this entity was disambiguated
This entity first appeared as the object of triple T1409923 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: Payment and Settlement Systems Act, 2007 Context triple: [Reserve Bank of India Act, 1934, relatedTo, Payment and Settlement Systems Act, 2007]
-
A.
Financial Services Act 2012
The Financial Services Act 2012 is a UK law that overhauled financial regulation after the 2008 crisis, creating new supervisory bodies and strengthening oversight of the financial system.
-
B.
Regulation CC
Regulation CC is a U.S. Federal Reserve regulation that governs the availability of funds and the collection and return of checks in the banking system.
-
C.
Reserve Bank Act 1959
The Reserve Bank Act 1959 is an Australian federal law that created the Reserve Bank of Australia and defines its powers, functions, and responsibilities as the nation’s central bank.
-
D.
Currency Act 1963
The Currency Act 1963 was Australian legislation that established the framework for replacing the Australian pound with a decimal currency system, paving the way for the introduction of the Australian dollar.
-
E.
Anti-Money Laundering Act of 2020
The Anti-Money Laundering Act of 2020 is a major U.S. federal law that modernizes and strengthens the country’s anti-money laundering and counter-terrorist financing framework, expanding regulatory powers, reporting requirements, and enforcement tools.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: Payment and Settlement Systems Act, 2007 Target entity description: The Payment and Settlement Systems Act, 2007 is an Indian law that provides a legal framework for the regulation, supervision, and oversight of payment and settlement systems in the country, primarily under the authority of the Reserve Bank of India.
-
A.
Financial Services Act 2012
The Financial Services Act 2012 is a UK law that overhauled financial regulation after the 2008 crisis, creating new supervisory bodies and strengthening oversight of the financial system.
-
B.
Regulation CC
Regulation CC is a U.S. Federal Reserve regulation that governs the availability of funds and the collection and return of checks in the banking system.
-
C.
Reserve Bank Act 1959
The Reserve Bank Act 1959 is an Australian federal law that created the Reserve Bank of Australia and defines its powers, functions, and responsibilities as the nation’s central bank.
-
D.
Currency Act 1963
The Currency Act 1963 was Australian legislation that established the framework for replacing the Australian pound with a decimal currency system, paving the way for the introduction of the Australian dollar.
-
E.
Anti-Money Laundering Act of 2020
The Anti-Money Laundering Act of 2020 is a major U.S. federal law that modernizes and strengthens the country’s anti-money laundering and counter-terrorist financing framework, expanding regulatory powers, reporting requirements, and enforcement tools.
- F. None of above. chosen
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
Act of Parliament of India
ⓘ
Indian statute ⓘ |
| administeredBy | Reserve Bank of India ⓘ |
| aimsTo |
ensure efficiency of payment and settlement systems
ⓘ
ensure safety of payment and settlement systems ⓘ reduce systemic risk in payment systems ⓘ |
| appliesTo |
banks operating payment systems in India
ⓘ
clearing houses and settlement agencies in India ⓘ non-bank payment system operators in India ⓘ |
| country | India ⓘ |
| empowers |
Reserve Bank of India to call for information from payment system providers
ⓘ
linked to:
Payment and Settlement Systems Act, 2007
Reserve Bank of India to conduct inspections of payment systems ⓘ
linked to:
Reserve Bank of India
Reserve Bank of India to issue directions to payment system providers ⓘ
linked to:
Payment and Settlement Systems Act, 2007
Reserve Bank of India to regulate payment system standards ⓘ
linked to:
Payment and Settlement Systems Act, 2007
|
| enactedBy | Parliament of India ⓘ |
| establishes |
legal basis for finality of payment instructions
ⓘ
legal basis for netting in payment systems ⓘ |
| grantsAuthorityTo | Reserve Bank of India ⓘ |
| jurisdiction |
Republic of India
ⓘ
linked to:
Union of India
|
| languageOfText | English ⓘ |
| legalFrameworkFor |
card payment systems
ⓘ
clearing houses ⓘ electronic funds transfer systems ⓘ real time gross settlement systems ⓘ retail payment systems ⓘ |
| legalStatus | in force ⓘ |
| primaryPurpose |
oversight of payment and settlement systems
ⓘ
regulation of payment systems in India ⓘ regulation of settlement systems in India ⓘ supervision of payment and settlement systems ⓘ |
| providesFor |
authorization of payment system operators
ⓘ
netting arrangements in payment systems ⓘ penalties for contravention of the Act ⓘ regulation of payment system providers ⓘ revocation of authorization of payment systems ⓘ rights and obligations of system participants ⓘ settlement finality in payment systems ⓘ |
| regulatorDesignated |
Reserve Bank of India as authority for payment systems
ⓘ
linked to:
Reserve Bank of India
|
| relatedTo |
Banking Regulation Act, 1949
ⓘ
Reserve Bank of India Act, 1934 ⓘ |
| sector | financial regulation ⓘ |
| shortName |
PSS Act, 2007
ⓘ
linked to:
Payment and Settlement Systems Act, 2007
|
| subjectMatter |
payment systems
ⓘ
settlement systems ⓘ systemically important payment systems ⓘ |
| typeOfRegulation |
conduct regulation of payment system providers
ⓘ
prudential regulation of payment systems ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: Payment and Settlement Systems Act, 2007 Description of subject: The Payment and Settlement Systems Act, 2007 is an Indian law that provides a legal framework for the regulation, supervision, and oversight of payment and settlement systems in the country, primarily under the authority of the Reserve Bank of India.
Referenced by (5)
Full triples — surface form annotated when it differs from this entity's canonical label.
linked to: Payment and Settlement Systems Act, 2007
Payment and Settlement Systems Act, 2007
→
empowers
→
Reserve Bank of India to regulate payment system standards
ⓘ
linked to: Payment and Settlement Systems Act, 2007
Payment and Settlement Systems Act, 2007
→
empowers
→
Reserve Bank of India to issue directions to payment system providers
ⓘ
linked to: Payment and Settlement Systems Act, 2007
Payment and Settlement Systems Act, 2007
→
empowers
→
Reserve Bank of India to call for information from payment system providers
ⓘ
linked to: Payment and Settlement Systems Act, 2007