TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART III, SECTION 4 — THE RESERVE BANK OF INDIA ACT, 1934

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART III, SECTION 4] RESERVE BANK OF INDIA NOTIFICATION MUMBAI, the 20 May 2025 Notification No. CO.DPSS.BD.No.S168/02 -01 -012/2025 -2026 . – In pursuance of sub-section (4) of section 3 read with sub -sections (1) and (2) of section 38 of the Payment and Settlement Systems Act, 2007 (51 of 2007), and in supersession of the Board for Regulation and Supervision of Payment and Settlement Systems Regulations, 2008, the Reserve Bank hereby publishes the annexed Payments Regulatory Board Regulations, 2025 which shall come into force from the date mentioned above. (Vivek Deep) Executive Director ANNEX Payments Regulatory Board Regulations, 2025 In exercise of the powers conferred by sub-section (4) of section 3 read with sub-sections (1) and (2) of Section 38 of the Payment and Settlement Systems Act, 2007 (51 of 2007), the Reserve Bank of India hereby makes the following regulations, namely: - 1. Short title and commencement – – (1) These Regulations may be called the “Payments Regulatory Board Regulations, 2025”. (2) They shall come into force on the date of their publication in the Official Gazette. 2. Definitions – – (1) In these regulations, unless, the context otherwise requires – (a) 'Act' means the Payment and Settlement Systems Act, 2007 (51 of 2007); (b) 'Bank' means the Reserve Bank of India constituted by the Reserve Bank of India Act, 1934 (2 of 1934); (c) ‘Board’ means the Payments Regulatory Board constituted under sub-section (2) of Section 3 of the Act; (d) 'Central Board' means the Central Board of Directors of the Reserve Bank of India constituted under Section 8 of the Reserve Bank of India Act,1934 (2 of 1934); (e) 'General Regulations' means the Reserve Bank of India General Regulations, 1949 made