Section 6 in The Payment And Settlement Systems Regulations, 2008
6. Submission of returns, documents, etc
.-(1) Every system provider shall be bound to submit to the Bank such returns, documents and other information as may be required by the Bank from time to time.(2)Without prejudice to the generality of the above, every system provider shall submit the following returns/documents to the Bank, namely:--(a)Monthly return, either in electronic form or paper format or both, containing the number of participants in the payment system operated, payment instructions processed, both in terms of volume and value, and number of instructions returned, with reasons.(b)Details of the defaults in fulfilling the payment obligations by the system participants to be reported on the date of occurrence.(c)Monthly return containing the details of the defaults in fulfilling the payment obligations by the system participants.(d)Quarterly certificate from the bankers about functioning of system provider's account with them.(e)Quarterly statement regarding any disputes between participants or between participants and the system provider.(f)Annual return relating to the staff strength, income and expenditure.(g)Annual return from the system provider showing changes in its Board of Directors or partners, as the case may be, changes in shareholding pattern whereby the aggregate shareholding of an individual or a group becomes equivalent to 5% or more of the paid up capital of the system provider and changes in Memorandum or Articles of Association of the system provider.(3)The returns and documents referred to in clauses (a) to (g) of sub-regulation (2) shall be submitted by the system provider in the form specified by the Bank from time to time.(4)The returns and documents under sub-regulation (1) and those referred to in clauses (a) to (g) of sub-regulation (2) shall be submitted by the system provider from its registered office to the office of the Bank (Department of Payment and Settlement Systems, Central Office) situated in Mumbai:Provided that the Bank may at any time, direct that the returns and documents under sub-regulation (1) and those referred to in clauses (a) to (g) of sub-regulation (2) be submitted to any other office of the Bank as may be specified.
