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Payments Regulatory Board to Regulate and Supervise Domestic and Cross-Border Payment Systems
The RBI Governor chairs the first meeting of the Payments Regulatory Board. The Payments Regulatory Board is set up by the Reserve Bank of India in 2025 to regulate and supervise payment systems, including domestic and cross-border systems.
Payments Regulatory Board:
| Dimension | Key Details |
|---|---|
| Established under | Set up in 2025 by the Reserve Bank of India under the Payment and Settlement Systems Act, 2007. |
| Mandate | Provides for regulation and supervision of all payment systems: electronic and non-electronic; domestic and cross-border. |
| Replaces | Replaced the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS). |
| Composition | Chaired by the RBI Governor; comprises two RBI representatives and three Central Government nominees as members. |