sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« Latest Circulars »
 Notification No. 67/2018 Ministry Of Finance
 RBI Working Paper No. 05/2018: India’s Investment Cycle: An Empirical Investigation
  RBI-Auction of Government of India Dated Securities October 15, 2018
 RBI-Prepaid Payment Instruments (PPIs) – Guidelines for Interoperability
 RBI-Auction for Sale (Issue/Re-issue) of Government Stock (GS)
 RBI-Directions for Central Counterparties (CCPs)
 Notification No. 75/2018 – Customs Government Of India Ministry Of Finance
 RBI announces auction of a 59-Day Government of India Cash Management Bill
 RBI-Prompt Corrective Action: An Essential Element of Financial Stability Framework
 Why RBI needs to review ownership and governance norms for banks
 Results of Underwriting Auctions Conducted on October 11, 2018

RBI publishes Payment and Settlement Systems in India: Vision-2018
June, 24th 2016

The Reserve Bank of India has today placed on its website the “Payment and Settlement Systems in India: Vision-2018”. The Vision-2018 aims at building best of class payment and settlement systems for a ‘less-cash’ India.

The broad contours of Vision-2018 revolve around 5 Cs – coverage, convenience, confidence, convergence and cost. To achieve these, Vision-2018 will focus on four strategic initiatives such as responsive regulation, robust infrastructure, effective supervision and customer centricity.

The regulatory framework, based on consultative approach, aims at achieving enhanced coverage of the payment systems coupled with convenience for end-users. A key objective would be ensure a robust payments infrastructure in the country to increase accessibility, availability, interoperability and security. The oversight and supervisory framework would focus on strengthening the resilience of both large value and retail payment systems in the country. Customer centric initiatives envisaged include streamlining of customer grievance redressal mechanism and building customer awareness and education.

With increasing use of technology-based innovative payment products, the strategic initiatives under Vision-2018 are expected to reduce paper-based instruments significantly and lead to accelerated growth in mobile banking and other modes of electronic payments.

Background

The Reserve Bank of India has periodically put forth its vision for payment and settlement systems in India, which enunciates the Bank’s objective to migrate to electronic payments and to ensure that the payment systems in India are safe, secure, authorised, efficient and accessible. The previous Vision document covered the period 2012 to 2015.

Alpana Killawala
Principal Adviser

Press Release : 2015-2016/2991

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
System Testing Solution Manual Software Testing Solutions Automation Software Testing Solutions System Workflow Testing System Manual Testing

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions