India's new regulatory board boosts fintech
The Reserve Bank of India (RBI) has set up a fresh Payments Regulatory Board (PRB) to take charge of digital payments, replacing the old board that was just RBI officials. This new group will be led by the RBI Governor and include both government nominees and central bank reps, aiming for a more balanced approach.
Goals and expectations from the board
With digital payments booming in India, the PRB is here to keep things modern and safe—aiming for smoother transactions, better data protection, and fairer costs as inferred goals. The board will meet twice a year, can bring in tech or legal experts when needed, and is expected to push for more financial inclusion so everyone gets a fair shot at using digital money. Members have to follow strict rules on integrity and confidentiality, which should help build trust as our payment systems grow.