law: Payment and Settlement Systems Act, 2007
  Chapter VI:
  
  Settlement of Disputes
  24. Settlement of
  
  disputes. -
  
  1.  
  
    The
  
  system provider shall make provision in its rules or regulations for creation
  
  of panel consisting of not less than three system participants other than the
  
  system participants who are parties to the dispute to decide the disputes
  
  between system participants in respect of any matter connected with the
  
  operation of the payment system.
  2.  
  
    Where
  
  any dispute in respect of any matter connected with the operation of the
  
  payment system arises between two or more system participants, the system
  
  provider shall refer the dispute to the panel referred to in sub-section (1).
  3.  
  
    Where
  
  any dispute arises between any system participant and the system provider or
  
  between system providers or where any of the system participants is not
  
  satisfied with the decision of the panel referred to in sub-section (1), the
  
  dispute shall be referred to the Reserve Bank.
  4.  
  
    The
  
  dispute referred to the Reserve Bank for adjudication under sub-section (3)
  
  shall be disposed of by an officer of the Reserve Bank generally or specially
  
  authorised in this behalf and the decision of the Reserve Bank shall be final
  
  and binding.
  5.  
  
    Where
  
  a dispute arises between the Reserve Bank, while acting in its capactiy as
  
  system provider or as system participant, and another system provider or system
  
  participant, the matter shall be referred to the Central Government which may
  
  authorise an officer not below the rank of Joint Secretary for settlement of
  
  the dispute and the decision of such officer shall be final.