Mumbai, Sep 30 (PTI) The Reserve Bank on Tuesday constituted the six-member Payments Regulatory Board, which includes three central government nominees, to supervise the functioning of payment systems in the country.

The panel is headed by the Governor.

The Payments Regulatory Board (PRB) replaces the Board for Regulation and Supervision of Payment and Settlement System (BPSS), a committee of the Central Board of the Reserve Bank of India.

The five-member BPSS was also headed by the RBI Governor, but does not include any government nominee.

The other two RBI members on the PRB are Deputy Governor and Executive Director in-charge of the Payment and Settlement Systems.

Government nominees on the board are Secretary, Department of Financial Services; Secretary, Ministry of Electronics an

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