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[Cites 0, Cited by 0] [Section 25] [Entire Act]

Union of India - Subsection

Section 25(3) in The Payment And Settlement Systems Act, 2007

(3)It shall not be a defence in a prosecution for an offence under sub-section (1) that the person, who initiated the electronic funds transfer through an instruction, authorisation, order or agreement, did not have reason to believe at the time of such instruction, authorisation, order or agreement that the credit of his account is insufficient to effect the electronic funds transfer.