Description
Lexis Nexis Law Relating To Electronic Transfer Of Money by M A Rashid
The Payment and Settlement Systems Act 2007 regulates and oversees the various payments and settlement systems in India. In an era of online transactions, this new law is likely to become a hotbed of litigation in the near future. Law Relating to Electronic Transfer of Money is a commentary on the Payment and Settlement Act 2007. It is a handy and comprehensive reference on all related Acts, Regulations, Notifications, Circulars and Guidelines. The Act makes the dishonour of online transactions punishable in the same manner as the dishonour of cheques under s. 138 of the Negotiable Instruments Act, 1881. This book sets out the practice and procedure for filing criminal complaints relating to dishonour of electronic fund transfers and includes model forms of notices and complaints. The book also explains all legal aspects of the following topics: • Electronic fund transfers, • Online payments, • Credit cards/debit cards/payment gateways, • ATMS/mobile payments, • Cheque truncation, • Speed clearing, • NEFT/RTGS, • Electronic Clearing Services