law: Payment and Settlement Systems Act, 2007
  6. Inquiry by the
  
  Reserve Bank. -
  
  After the receipt of
  
  an application under section 5, and before an authorisation is issued under
  
  this Act, the Reserve Bank may make such inquiries as it may consider necessary
  
  for the purpose of satisfying itself about the genuineness of the particulars furnished
  
  by the applicant, his capacity to operate the payment system, the credentials
  
  of the participants or for any other reason and when such an inquiry is
  
  conducted by any person authorised by it in this behalf, it may require a
  
  report from such person in respect of the inquiry.