{"id":934,"date":"2026-03-09T11:13:59","date_gmt":"2026-03-09T11:13:59","guid":{"rendered":"https:\/\/materials.simplycurrentaffairs.com\/?p=934"},"modified":"2026-03-12T11:18:33","modified_gmt":"2026-03-12T11:18:33","slug":"payments-regulatory-board-2","status":"publish","type":"post","link":"https:\/\/materials.simplycurrentaffairs.com\/index.php\/2026\/03\/09\/payments-regulatory-board-2\/","title":{"rendered":"Payments Regulatory Board"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0);color:#199668\" class=\"has-inline-color\"><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>Payments Regulatory Board<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/mark><\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"><strong><strong><strong><strong><strong>About<\/strong><\/strong><\/strong><\/strong><\/strong><\/mark><\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <strong>Reserve Bank of India (RBI)<\/strong> has constituted the <strong>Payments Regulatory Board (PRB)<\/strong> and appointed <strong>six-members<\/strong> to this board led by <strong>RBI Governor as Chairman.<\/strong>\n<ul class=\"wp-block-list\">\n<li>Alongside the Governor, the board comprises <strong>two other RBI representatives<\/strong> and <strong>three Central Government nominees.<\/strong>\n<ul class=\"wp-block-list\">\n<li>The <strong>Principal Legal Advisor of the RBI<\/strong> is a <strong>permanent invitee<\/strong> to the meetings of the board.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>The Board is responsible for the <strong>regulation and supervision of all payment systems including electronic and non-electronic, domestic and cross-border systems.<\/strong><\/li>\n\n\n\n<li>The <strong>PRB replaces the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS)<\/strong>, a committee of the RBI\u2019s Central Board.<\/li>\n\n\n\n<li>The PRB will be <strong>supported by the RBI\u2019s Department of Payment and Settlement Systems (DPSS)<\/strong>, which will report directly to it.<\/li>\n\n\n\n<li>The new board derives its authority from the <strong>Payment and Settlement Systems Act, 2007.<\/strong><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-red-color\"><strong><strong><strong><strong><strong>Voting<\/strong><\/strong><\/strong><\/strong><\/strong><\/mark><\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Decisions requiring approval<\/strong> during board meetings will be taken by a <strong>majority of members present and voting<\/strong>. In the <strong>event of a tie<\/strong>, the <strong>chairperson<\/strong> will have a <strong>second or casting vote.<\/strong><\/li>\n\n\n\n<li>The Board is <strong>required to meet at least twice a year.<\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Payments Regulatory Board About Voting<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-934","post","type-post","status-publish","format-standard","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/materials.simplycurrentaffairs.com\/index.php\/wp-json\/wp\/v2\/posts\/934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/materials.simplycurrentaffairs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/materials.simplycurrentaffairs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/materials.simplycurrentaffairs.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/materials.simplycurrentaffairs.com\/index.php\/wp-json\/wp\/v2\/comments?post=934"}],"version-history":[{"count":7,"href":"https:\/\/materials.simplycurrentaffairs.com\/index.php\/wp-json\/wp\/v2\/posts\/934\/revisions"}],"predecessor-version":[{"id":945,"href":"https:\/\/materials.simplycurrentaffairs.com\/index.php\/wp-json\/wp\/v2\/posts\/934\/revisions\/945"}],"wp:attachment":[{"href":"https:\/\/materials.simplycurrentaffairs.com\/index.php\/wp-json\/wp\/v2\/media?parent=934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/materials.simplycurrentaffairs.com\/index.php\/wp-json\/wp\/v2\/categories?post=934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/materials.simplycurrentaffairs.com\/index.php\/wp-json\/wp\/v2\/tags?post=934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}