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Corporate Law Firm in Ahmedabad, India > Blog > Fintech governance

The Payments Regulatory Board: A Quiet Power Shift in Fintech Governance

  • 2026-01-16

Introduction The operationalisation of the Payments Regulatory Board (“PRB”) in May 2025, in its inaugural meeting on January 5, 2026, represents a significant structural intervention in India’s financial governance. Replacing the erstwhile Board for Regulation and Supervision of Payment and Settlement Systems (“BPSS”), the PRB introduces a multi-stakeholder governance model that institutionalises the tension between…

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