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[Cites 0, Cited by 0] [Section 2(1)] [Section 2] [Entire Act]

Union of India - Subsection

Section 2(1)(h) in The Payment And Settlement Systems Act, 2007

(h)"payment obligation" means an indebtedness that is owned by one system participant to another system participant as a result of clearing or settlement of one or more payment instructions relating to funds, securities or foreign exchange or derivatives or other transactions;