Current Affairs

GK MCQs Section
Q. Consider the following statements regarding the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS):
  1. It is a statutory body.
  2. It is the highest policy making body on payment systems in the country.
Which of the above statements is/are correct?
Answer: Only 2
Notes: Statement 1 is incorrect as the BPSS is not a statutory body; it functions as a sub-committee of the RBI's Central Board, though a statutory status has been proposed. Statement 2 is correct since BPSS is the highest policy making body on payment systems in India.
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📌 Question Number: 125 in Constitutional, Statutory, Non-statutory and Quasi-judicial Bodies in the above course in App.