Q1. The Payments Regulatory Board (PRB), constituted under the Payment and Settlement Systems Act, 2007, is chaired by which authority?
Explanation
The Payments Regulatory Board (PRB) is chaired by the RBI Governor. In January 2026, RBI Governor Sanjay Malhotra chaired the inaugural meeting of the PRB in Mumbai. The PRB replaces the earlier Board for Regulation and Supervision of Payment and Settlement Systems (BPSS) and has six members tasked with ensuring safety, efficiency, and stability of India's digital payments ecosystem.
