The Reserve Bank of India(RBI) has released the <\/span>\u201cPayments Vision 2025\u201d.<\/span><\/p>\n Released by: <\/b>Reserve Bank of India(RBI)<\/span><\/p>\n Core Theme:<\/b> E-Payments for Everyone, Everywhere, Everytime (4 Es)<\/span><\/p>\n Vision:<\/b> Provide every user with Safe, Secure, Fast, Convenient, Accessible, and Affordable e-payment options (6 Attributes).<\/span><\/p>\n Goalposts:<\/b> The activities to be taken up by the RBI till 2025 have been captured across five anchor goal posts: 1) Integrity, 2) Inclusion, 3) Innovation, 4) Institutionalization and 5) Internationalization.<\/span><\/p>\n \u2013 Regulations for BigTechs and fintech in payments,<\/span><\/p>\n \u2013 Guidelines on payments involving \u201cBuy Now Pay Later\u201d (BNPL) services,<\/span><\/p>\n \u2013 Introducing the central bank digital currency (CBDC)<\/a>,<\/span><\/p>\n \u2013 Geotagging of digital payment infrastructure and transactions,\u00a0<\/span><\/p>\n \u2013 <\/span>Create a payments system for processing online merchant payments using internet\/mobile banking, and\u00a0<\/span><\/p>\n \u2013 Linking credit cards and credit components of banking products to the Unified Payments Interface (UPI).<\/span><\/p>\n Expected Outcomes of the Vision Document: 1)<\/b> Restrict the volume of cheque-based payments to less than 0.25% of the total retail payments, 2)<\/strong> <\/span>Increase the number of digital payment transactions three times, 3)<\/strong> UPI register 50% annualized growth, 4)<\/strong> IMPS and NEFT register 20% growth and 5) <\/strong><\/span>Reduction in Cash in Circulation (CIC) as a percentage of GDP.<\/span><\/p>\n Source: <\/b>The post is based on the article<\/span> \u201c<\/b>Payments Vision 2025: RBI aims to regulate BigTech, FinTechs, BNPL services<\/b>\u201d<\/b> published in<\/span> Business Standard <\/b>on 18th June 2022.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":" What is the News? The Reserve Bank of India(RBI) has released the \u201cPayments Vision 2025\u201d. What is \u201cPayments Vision 2025\u201d? Released by: Reserve Bank of India(RBI) Core Theme: E-Payments for Everyone, Everywhere, Everytime (4 Es) Vision: Provide every user with Safe, Secure, Fast, Convenient, Accessible, and Affordable e-payment options (6 Attributes). Goalposts: The activities to… Continue reading Payments Vision 2025: RBI aims to regulate BigTech, FinTechs, BNPL services<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[10503],"class_list":["post-191728","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-business-standard","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1702071000},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/191728","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=191728"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/191728\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=191728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=191728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=191728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What is \u201cPayments Vision 2025\u201d?<\/b><\/h5>\n
Actions to be taken under the Payment Vision 2025:<\/b><\/h5>\n