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    <title>RBI constitutes 6-member Payments Regulatory Board</title>
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    <description>The Reserve Bank constituted a Payments Regulatory Board to supervise national payment systems, replacing the prior Board for Regulation and Supervision of Payment and Settlement System. The PRB is chaired by the Governor, combines RBI members with three central government nominees, designates the Principal Legal Adviser as a permanent invitee, and sets ordinary meeting frequency for oversight of payment and settlement systems.</description>
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