PAYMENT AND SETTLEMENT SYSTEMS

Payment and settlement systems play an important role in improving overall economic efficiency. They consist of all the diverse arrangements that we use to systematically transfer money-currency, paper instruments such as cheques, and various electronic channels.


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Date : Jan 21, 2019
Reserve Bank of India invites comments on Authorisation of New Retail Payment Systems

The Reserve Bank has today placed on its website a policy paper on Authorisation of New Retail Payment Systems for public comments.

In the Statement on Developmental and Regulatory Policies released with the Second Bi-monthly Monetary Policy Statement 2018-19, the Reserve Bank had announced that it would encourage more players to participate in and promote pan-India payment platforms and would bring out a policy paper for public consultation by September 30, 2018. The objective was to minimise the concentration risk in the retail payments market, from a financial stability perspective and to give a fillip to innovation and competition.

The Reserve Bank invites comments on the policy paper from all stakeholders and members of public by February 20, 2019. The comments may be sent by post to the Chief General Manager, Department of Payment and Settlement Systems, Reserve Bank of India, Central Office, 14th Floor, Shahid Bhagat Singh Marg, Mumbai-400001, or by email.

Jose J. Kattoor
Chief General Manager

Press Release: 2018-2019/1708


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