{"id":66135,"date":"2025-10-02T11:31:22","date_gmt":"2025-10-02T06:01:22","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=66135"},"modified":"2025-10-03T16:42:12","modified_gmt":"2025-10-03T11:12:12","slug":"payments-regulatory-board","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/payments-regulatory-board\/","title":{"rendered":"Payments Regulatory Board"},"content":{"rendered":"<h2><b>Payments Regulatory Board Latest News<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Recently, the Reserve Bank of India (RBI) constituted a six-member Payments Regulatory Board (PRB).\u00a0<\/span><\/p>\n<h2><b>About Payments Regulatory Board<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It derives its authority from the <\/span><b>Payment and Settlement Systems Act, 2007.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It replaces the <\/span><b>Board for Regulation and Supervision of Payment and Settlement Systems<\/b><span style=\"font-weight: 400;\"> (BPSS), a committee of the RBI\u2019s Central Board.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Composition of<\/b> <b>Payments Regulatory Board<\/b>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Ex officio Chairperson:<\/b><span style=\"font-weight: 400;\"> RBI Governor<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Ex officio members:<\/b> <b>Deputy Governor<\/b><span style=\"font-weight: 400;\"> and the <\/span><b>Executive Director<\/b><span style=\"font-weight: 400;\"> in charge of Payment and Settlement Systems.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><b>Government nominees:<\/b><span style=\"font-weight: 400;\"> Central government nominates 3 members to the board.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The <\/span><b>principal legal adviser<\/b><span style=\"font-weight: 400;\"> of the <\/span><b><a href=\"https:\/\/vajiramandravi.com\/upsc-exam\/reserve-bank-of-india\/\" target=\"_blank\">RBI<\/a> is a permanent invitee<\/b><span style=\"font-weight: 400;\"> to the meetings of the board.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The PRB will be supported by the RBI\u2019s Department of Payment and Settlement Systems (DPSS), which will report directly to the PRB.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Decision Making:<\/b><span style=\"font-weight: 400;\"> Decisions by a <\/span><b>majority of<\/b> <b>members present and voting<\/b><span style=\"font-weight: 400;\">. In the event of a tie, the chairperson \u2014 or in his absence, the deputy governor will have a second or casting vote.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Board is required to meet at <\/span><b>least twice a year.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Function of PRB:<\/b><span style=\"font-weight: 400;\"> It is responsible for the <\/span><b>regulation and supervision of all payment systems<\/b><span style=\"font-weight: 400;\"> including electronic and non-electronic, domestic and cross-border systems.<\/span><\/li>\n<\/ul>\n<p><b>Source:<\/b><strong><a href=\"https:\/\/indianexpress.com\/article\/cities\/mumbai\/rbi-constitutes-6-member-payments-regulatory-board-10280813\/\" target=\"_blank\" rel=\"nofollow noopener\"> IE<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Payments Regulatory Board replaces the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS), a committee of the RBI\u2019s Central Board. Read more about Payments Regulatory Board, Composition, Functions, Latest News.<\/p>\n","protected":false},"author":24,"featured_media":66307,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[3029],"class_list":{"0":"post-66135","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"tag-payments-regulatory-board","9":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/66135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=66135"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/66135\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/66307"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=66135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=66135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=66135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}