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 : Jul 22, 2020
RBI releases ‘Report of the Committee for Analysis of QR Code’ for public comments

The Reserve Bank of India has today placed on its website the ‘Report of the Committee for Analysis of QR (Quick Response) Code’. The Committee was constituted by RBI on December 23, 2019 under the Chairmanship of Prof. D.B. Phatak (Professor Emeritus, IIT-Bombay) to review the prevalent system of QR Codes in India for facilitating digital payments and submit recommendations.

The Reserve Bank invites comments / suggestions on the report from all stakeholders and members of public which may be forwarded by email on / before August 10, 2020.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/89


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