Payments Regulatory Board Holds First Meeting

Mumbai, Jan 5 (PTI) The Payments Regulatory Board (PRB) in its first meeting on Monday reviewed the current focus areas, covering domestic and global payment systems.

The meeting, chaired by Reserve Bank Governor Sanjay Malhotra, also reviewed the functions of the Department of Payment and Settlement Systems, the central bank said in a statement.

The PRB was constituted consequent to an amendment in the Payment and Settlement Systems Act, 2007, which came into effect on May 9, 2025.


The draft Payments Vision 2028 was presented, and members gave strategic guidance to ensure the continued development of India's payment ecosystem.

A presentation on the major findings of the Survey on Digital Payments, recently conducted by the RBI, was also made.

Members of PRB -- S Krishnan, Secretary, Ministry of Electronics and Information Technology; Nagaraju Maddirala, Secretary, Department of Financial Services; Aruna Sundararajan, IAS (Retd); T Rabi Sankar, RBI Deputy Governor; and Vivek Deep, RBI Executive Director, attended the meeting.