« Top Headlines » Open DEMAT Account in 24 hrs  Result of the Information Systems Audit [ISA] Assessment Test held on 8th November 2025 is likely to be declared on late evening (around 9 pm) of 16th November 2025.  Income Tax: What is revised I-T return which you can file till the end of the calendar year?  Creating Vouchers Directly from Bank Statements in Tally Prime A Complete Step-by-Step Guide  Payroll Management in Tally Prime 7.0 Expected Enhancements, Current Features, and Future Scope  How to Change Current Period in Tally Prime Step-by-Step Guide for Users  Global Payroll Management with Tally Prime: How International Businesses Use It Beyond India  How to Manage B2B HSN Codes in Tally Prime: A Complete Guide for Businesses  How to Check Business Revenue in Tally Prime: A Complete Step-by-Step Guide  MSME Payment Rule in Tally Prime: Understanding the Law and Its Impact on Businesses in 2025 The MSME (Micro, Small and Medium Enterprises) Payment Rule is a legal framework introduced under th  Multipurpose Empanelment Form (MEF) 2025 26 Meaning, Purpose, and How to Manage It in Tally Prime  GST Appellate Tribunal (GSTAT) Structure, Powers, and Its Relevance in Tally Prime Implementation «  IFAC's International Public Sector Accounting Standards... Small cities clock smart growth in I-T collections... » ‘Legal framework to back advanced payment and settlement system’ October, 27th 2006 The Reserve Bank of India (RBI) is trying to ensure that the legal framework in the country is not lagging behind the modern developments in payment and settlement technology, RBI governor YV Reddy said, while addressing a Regional Payment Systems Workshop, in Hyderabad. He said as the Payment and Settlement Systems Bill, 2006 is under consideration of Parliament, the oversight of payment and settlement system was initiated under the RBI Regulations, 2005, which have been framed under the statutory provisions of the RBI Act. As on when the Payment and Settlement Systems Bill is enacted in Parliament, the enactment would provide a specified and dedicated legal foundation for the regulation and supervision of the payment and settlement systems as also legal recognition to netting procedures in the country. Speaking on the RTGS experience, Reddy said the experience with RTGS shows that there are immense benefits but its popularity itself can give rise to some operational issues when the system is stabilising. “The delays in closing the books by the end of the day have been reported. We are according highest priority to tackle these operational issues that have cropped up in the recent past,” he said. Also, several strategic measures may be necessary to popularise and encourage the use of RTGS by the financial intermediaries, consistent with the efficacy and capacity of the RTGS system, said Reddy.