PRB Charts New Course for India's Payment Ecosystem

The Payments Regulatory Board (PRB) convened for its first meeting to review India's payment systems under the leadership of Reserve Bank Governor Sanjay Malhotra. The board aims to enhance the country's payment infrastructure through the newly drafted Payments Vision 2028.

The Payments Regulatory Board (PRB) held its inaugural meeting on Monday to assess the current focus areas of both domestic and global payment systems.

Chaired by Reserve Bank Governor Sanjay Malhotra, the meeting discussed the roles of the Department of Payment and Settlement Systems, according to a central bank statement.

Following an amendment to the Payment and Settlement Systems Act of 2007, effective May 9, 2025, the board presented the draft Payments Vision 2028, seeking strategic direction for India's payment ecosystem. Key findings from the RBI's Survey on Digital Payments were also showcased.

(With inputs from agencies.)