<h1>Central bank forms six-member Payments Regulatory Board to oversee national payment systems, chaired by Governor, includes three government nominees</h1> The central bank has constituted a six-member Payments Regulatory Board to supervise national payment systems, chaired by the Governor and including three central government nominees; it replaces the five-member Board for Regulation and Supervision of Payment and Settlement System. Two additional board members are a Deputy Governor and the Executive Director responsible for payment and settlement systems. Government nominees include the Secretary of the Department of Financial Services, the Secretary of the Ministry of Electronics and Information Technology, and a former telecom secretary. The central bank's Principal Legal Adviser is a permanent invitee and the board will ordinarily meet at least twice a year.