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of <h1>Amendment to Payment and Settlement Systems Act, 2007: Reserve Bank to Regulate Payment Systems via Payments Regulatory Board.</h1> The Payment and Settlement Systems Act, 2007, is amended to designate the Reserve Bank as the authority for regulating and supervising payment systems. This authority will operate through the Payments Regulatory Board, which includes the Reserve Bank's Governor as Chairperson, the Deputy Governor responsible for Payment and Settlement Systems, an officer nominated by the Central Board of the Reserve Bank, and three members nominated by the Central Government. The Board's powers, meeting procedures, and related matters will be prescribed as per the amendment.
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