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Payments Regulatory Board
January 9 , 2026
15 hrs 0 min
61
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- The first meeting of the Payments Regulatory Board (PRB) was held in Mumbai.
- The PRB is a statutory body through which the Reserve Bank of India (RBI) regulates and supervises payment and settlement systems in India.
- It was established under Section 3 of the Payment and Settlement Systems Act, 2007.
- It replacing the earlier Board for Regulation and Supervision of Payment and Settlement Systems (BPSS).
- The PRB became operational from 9 May 2025, after amendments were notified by the Government of India.
- Key functions include authorisation of payment systems (UPI, cards, wallets, RTGS), setting technical and security standards, risk management, policy direction, and supervision and enforcement.
- The PRB strengthens digital payments governance, enhances consumer trust, and ensures systemic stability in India’s payment ecosystem.
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