law: Payment and Settlement Systems Act, 2007
  18. Power of Reserve
  
  Bank to give directions generally. -
  Without prejudice to
  
  the provisions of the foregoing, the Reserve Bank may, if it is satisfied that
  
  for the purpose of enabling it to regulate the payment systems or in the
  
  interest of management or operation of any of the payment systems or in public
  
  interest, it is necessary so to do, lay down policies relating to the
  
  regulation of payment systems including electronic, non-electronic, domestic
  
  and international payment systems affecting domestic transactions and give such
  
  directions in writing as it may consider necessary to system providers or the
  
  system participants or any other person either generally or to any such agency
  
  and in particular, pertaining to the conduct of business relating to payment
  
  systems.