First meeting of the Payments Regulatory Board:
The first meeting of the Payments Regulatory Board (PRB) was held in Mumbai under the chairmanship of Sanjay Malhotra, marking the operationalisation of the new payments governance framework.The Payments Regulatory Board (PRB) is the statutory body through which the Reserve Bank of India exercises regulatory and supervisory powers over payment and settlement systems in India, ensuring safety, efficiency, and stability of digital and non-cash payments.Created under Section 3 of the Payment and Settlement Systems Act, 2007.
Replaced the earlier Board for Regulation and Supervision of Payment and Settlement Systems (BPSS).Brought into effect from 9 May 2025 following amendments notified by the Government of India.
