Board for Payment and Settlement Systems

In 2005, RBI constituted the Board for Payment and Settlement Systems (BPSS) as a Committee of its Central Board. The functions are to regulate and supervise the payment and settlement systems. This is also chaired by the Governor of RBI and its members are all the four Deputy Governors and two Non-Official Directors of the

Board for Financial Supervision

The Board of Financial Supervision (BFS) was constituted in November 1994 as a committee of the Central Board of Directors. Its objective is to undertake consolidated supervision of the financial sector comprising commercial banks, financial institutions and non-banking finance companies. The RBI carries out its functions related to financial supervision under the guidance of BFS. It