Payments Regulatory Board
- The Reserve Bank of India (RBI) has issued the Payments Regulatory Board Regulations, 2025, under the Payment and Settlement Systems Act, 2007, replacing the 2008 framework for regulating payment systems.
- The new board will be chaired by the RBI Governor, with ex-officio members including the Deputy Governor overseeing payment systems and one RBI-nominated officer. Additionally, three members will be nominated by the Central Government, with a fixed tenure of four years and no option for re-nomination. The board may invite experts in areas like payments, law, IT, and cybersecurity. It must meet at least twice annually, with a quorum of three members. Decisions are made by majority, with the Chairperson holding a casting vote in case of a tie.