Payment Systems in India: Reflecting on some recent trends and future challenges (Inaugural address delivered by Shri. Harun R Khan, Deputy Governor of the Reserve Bank of India at the International Seminar on Adoption of ISO 20O22 in RTGS held at the College of Agricultural Banking, Pune on September 30, 2013) https://www.taxtmi.com/news?id=11779 The Reserve Bank is implementing ISO 20022-based messaging in Next Generation RTGS using XML to enable extensibility, structured syntax and semantics, and advanced liquidity management; this adoption aims to improve interoperability and portability across disparate payment systems, reduce development complexity, and support convergence of electronic channels. Concurrently, supervisory measures mandate enhanced authentication, transaction caps, beneficiary controls, IP capture and encryption standards (DUKPT/UKPT, TLE) to mitigate cyber fraud, while emphasising consumer awareness, grievance redressal and liability frameworks. en-us Mon, 30 Sep 2013 16:04:15 +0530 Mon, 30 Sep 2013 16:04:15 +0530 TaxTMI RSS Generator Payment Systems in India: Reflecting on some recent trends and future challenges (Inaugural address delivered by Shri. Harun R Khan, Deputy Governor of the Reserve Bank of India at the International Seminar on Adoption of ISO 20O22 in RTGS held at the College of Agricultural Banking, Pune on September 30, 2013) https://www.taxtmi.com/news?id=11779 The Reserve Bank is implementing ISO 20022-based messaging in Next Generation RTGS using XML to enable extensibility, structured syntax and semantics, and advanced liquidity management; this adoption aims to improve interoperability and portability across disparate payment systems, reduce development complexity, and support convergence of electronic channels. Concurrently, supervisory measures mandate enhanced authentication, transaction caps, beneficiary controls, IP capture and encryption standards (DUKPT/UKPT, TLE) to mitigate cyber fraud, while emphasising consumer awareness, grievance redressal and liability frameworks. News - Mon, 30 Sep 2013 16:04:15 +0530 https://www.taxtmi.com/news?id=11779