Section 3(3) in The Payment And Settlement Systems Act, 2007
(3)The Board constituted under sub-section (2) shall consist of the following members, namely:--(a)Governor, Reserve Bank, who shall be the Chairperson of the Board;(b)Deputy Governors, Reserve Bank, out of whom the Deputy Governor who is in-charge of the Payment and Settlement Systems, shall be the Vice-Chairperson of the Board;(c)Not exceeding three Directors from the Central Board of the Reserve Bank of India to be nominated by the Governor, Reserve Bank.
