Interoperability in retail payments is essential to rapidly scale digital payments and inclusion across India.
The address calls for accelerating digital retail payments by strengthening interoperable, bank owned national clearing and settlement infrastructure, expanding acceptance into rural and smaller centres, promoting electronic delivery of government benefits, and instituting simplicity, standardisation and robust security to build consumer confidence. It identifies mobile payments and interoperable domestic networks as primary drivers and stresses coordinated action by regulators, banks, network partners and industry bodies to scale usage and inclusion.

NBFC regulation: strengthened activity based prudential rules to curb systemic risks while preserving sectoral innovation and outreach.
The Reserve Bank has shifted toward activity based oversight to address systemic risks from non bank credit intermediation, strengthening capital, leverage, asset classification and provisioning norms for systemically significant NBFCs, harmonising concentration and governance standards, imposing rating requirements for deposit acceptance, and applying proportionate reporting and simplified prudential rules for smaller non deposit NBFCs while planning further harmonisation and consultation on new business models.