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Section 25 in The Payment And Settlement Systems Act, 2007 [Entire Act]

electronic funds transfer for insufficiency, etc., of funds in the account. - (1) Where an electronic funds transfer initiated by a person from an account maintained ... with fine which may extend to twice the amount of the electronic funds transfer, or with both: Provided that nothing contained in this section shall
Union of India - Section Cites 0 - Cited by 233

Section 2 in The Payment And Settlement Systems Act, 2007 [Entire Act]

Reserve Bank from time to time; (c) "electronic funds transfer" means any transfer of funds which is initiated by a person by way of instruction ... that bank through electronic means and includes point of sale transfers, automated teller machine transactions, direct deposits or withdrawal of funds, transfers initiated by telephone
Union of India - Section Cites 0 - Cited by 36
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