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Six-member RBI board to regulate payment systems
May 24, 2025
|Financial Express Pune
A SIX-MEMBER PAYMENTS regulatory board (PRB), headed by Reserve Bank of India (RBI) governor Sanjay Malhotra, will regulate and supervise payment systems in the country, according to a central bank notification.
The panel will have three central government nominees.
The PRB will replace the Board for Regulation and Supervision of Payment and Settlement System (BPSS). The five-member BPSS is also headed by the RBI governor, but does not include any government nominee. The other members are a deputy governor concerned and three directors from the Central Board of the Reserve Bank of India.
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