<h1>Regulatory reform for digital payments to reshape market structure and enable wider fintech participation.</h1> Projected market expansion will be driven by technology, entry of global tech firms and regulatory reform. UPI, IMPS and card payments registered accelerated adoption, with growth analysis based on MeitY and RBI data. The booklet notes an amendment to the Payment and Settlement Act, 2007 and committee recommendations toward a new regulatory regime, and describes four RBI initiatives intended to support transition to a digital payments ecosystem.