Q. With reference to the Payments Regulatory Board (PRB), consider the following statements:
1.It has replaced the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS) of the RBI.
2.The PRB is chaired by the Deputy Governor of the RBI and includes nominees from the Central Government.
3.The Board is responsible only for supervising electronic domestic payment systems and does not cover non-electronic or cross-border systems.
How many of the statements given above is/are correct?
Answer: A
Notes:
Explanation– Only Statement 1 is correct—PRB replaced BPSS; it is chaired by the RBI Governor (not Deputy Governor) and regulates all payment systems, not just electronic domestic ones.
Source- IE
