After years of resisting government intervention, the Reserve Bank of India has finally conceded ground. With the creation of the Payments Regulatory Board (PRB), the government now has formal representation in the regulation of India’s digital payments ecosystem—a move many in the industry say reshapes the power dynamic between Delhi and Mint Street. Fintechs see it as a long-awaited win. NPCI may no longer be the uncontested king. From crypto bans to zero-MDR, from Paytm’s regulatory fallout to NUE’s possible comeback, this story digs into what the PRB could mean for the future of Indian fintech. Only *@theheadandtale* https://theheadandtale.com/to-the-point/rbi-vs-government--the-battle-over-india-s-digital-payments-ecosystem-explained/