Module: General Practice
Q3: Following an amendment to the PSS Act, 2007, which entity replaced the erstwhile Board for Regulation and Supervision of Payment and Settlement Systems (BPSS), effective May 2025?
✅ Correct Answer: B
An amendment to the PSS Act, 2007 became effective from May 09, 2025.
This amendment replaced the erstwhile Board for Regulation and Supervision of Payment and Settlement Systems (BPSS) with the new Payments Regulatory Board (PRB). This governance shift is a critical update highlighted in the RBI's Payment Systems Report - June 2025.
This amendment replaced the erstwhile Board for Regulation and Supervision of Payment and Settlement Systems (BPSS) with the new Payments Regulatory Board (PRB). This governance shift is a critical update highlighted in the RBI's Payment Systems Report - June 2025.