The Reserve Bank of India(RBI) has released a report titled “Benchmarking India’s Payments Systems”.The report provides a comparative position of the payments ecosystem in India relative to comparable payments systems and usage trends in other major economies. The study has found that India has a strong regulatory system and robust large value and retail payments… Continue reading RBI study moots boost to acceptance infra for digital payments
Tag: DIGITAL PAYMENTS
Nilekani panel suggests 24×7 RTGS, NEFT, elimination of all charges
The Reserve Bank of India(RBI) had appointed a committee headed by Nandan Nilekani to submit its suggestions on promoting digital payments. The panel has suggested several measures to encourage digital payments such as (a)elimination of charges (b)round-the-clock RTGS and NEFT facility and (c)duty-free import of point-of-sales machines. The panel has also suggested that there should… Continue reading Nilekani panel suggests 24×7 RTGS, NEFT, elimination of all charges
E-payments panel submits report to RBI
The Reserve Bank of India(RBI) appointed a committee, headed by Nandan Nilekani has submitted its suggestions on promoting digital payments to RBI Governor. RBI had set up the five-member panel on deepening digital payments with a view to encouraging digitisation of payments and enhance financial inclusion through digitisation. The panel was tasked with reviewing the… Continue reading E-payments panel submits report to RBI
QR code option may be must for shops
The Central government is looking to mandate a QR code-based payment option using Unified Payments Interface (UPI) at all shops. This measure is intended to promote digital payments as the preferred option.The details are being worked by the National Payments Corporation of India (NPCI). QR code or Quick Response code is a two-dimensional machine readable… Continue reading QR code option may be must for shops
