Payments Board
Payments Regulatory Board discusses Payments Vision 2028 at first meeting
This story was originally published at 19:36 IST on 5 January 2026
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NEW DELHI – The Payments Regulatory Board, chaired by Reserve Bank of India Governor Sanjay Malhotra, Monday discussed the draft Payments Vision 2028 document at its first meeting. At the meeting, the board members gave "strategic guidance" on the document to ensure the continued development of India's payment ecosystem, RBI said in a release. The RBI also presented the findings of its recent survey on digital payments at the meeting.
The central bank established the Payments Regulatory Board on May 9, replacing the Board for Regulation and Supervision of Payment and Settlement Systems, a committee of the Central Board of the Reserve Bank of India. The constitution of the board was first mooted eight years ago in the Union Budget for 2017-18 (Apr-Mar).
In addition to Malhotra, the other members of the Payments Regulatory Board include RBI Deputy Governor T. Rabi Shankar, RBI Executive Director Vivek Deep, Financial Services Secretary M. Nagaraju, Electronics and Information Technology Secretary S. Krishnan, and retired Indian Administrative Service officer Aruna Sundararajan.
The board is supposed to meet at least twice a year, with at least three members required to hold the meeting. End
Reported by Priyasmita Dutta
Edited by Saji George Titus
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