Payment and Settlement Systems in India: Vision 2018


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.

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Thursday, June 23, 2016
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Reserve Bank of India
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