RBI'S 'Vision 2021' Document on Payment Systems

The Reserve Bank of India (RBI) released a vision document - ‘Payment and Settlement Systems in India: Vision 2019 - 2021’, which envisages achieving a highly digital and cash-lite society through the goal posts of competition, cost effectiveness, convenience and confidence (4Cs).

Aim of the Vision

  • To Increase Digital Transactions: Aiming at a cash-lite society, it expects the number of digital transactions to increase more than four times till December 2021.
  • More Options for Customers: It will lead to further innovations and entry of more players, which is expected to ensure optimal cost to the customers and freer access to multiple ....
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