Payment and Settlement Systems in India: Vision 2018

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The broad contours of Vision-2018 revolve around the 5 Cs

  • Coverage – by enabling wider access to a variety of electronic payment services
  • Convenience – by enhancing user experience through ease of use and of products and processes
  • Confidence – by promoting the integrity of systems, the security of operations and customer protection
  • Convergence – by ensuring interoperability across service providers
  • Cost – by making services cost-effective for users as well as service providers

Additionally, Vision-2018 focuses on 4 strategic initiatives:

  • Responsive regulation
  • Robust infrastructure
  • Effective supervision
  • Customer centricity

Background: The Reserve Bank of India has periodically put forth its vision for payment and settlement systems in India. The previous Vision document covered the period 2012 to 2015.

Document Details

Document Type: 
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Year of Document: 
2016
Date of Document: 
Thursday, June 23, 2016
Document Authors: 
Reserve Bank of India
Language (This Document): 
English

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