Indian Payments System Kaleidoscope (Valedictory address delivered by Shri S. S. Mundra, Deputy Governor, Reserve Bank of India at the International Conference on National Payment Schemes organised by NPCI on May 22, 2015) https://www.taxtmi.com/news?id=14550 Safe, secure and efficient payment systems are foundational to economic stability and must scale to process large retail volumes generated by inclusion initiatives. India's recent innovations-from interbank switches, RTGS/NEFT and cheque truncation to RuPay, Aadhaar-enabled payments and NUUP-have enhanced interoperability and access but impose capacity, cybersecurity and coordination challenges. Technology and mobile channels offer multi-channel delivery opportunities, yet heterogeneity of platforms and operational frictions slow adoption. Regulators must balance enabling innovation with oversight on non-bank participation, virtual currencies, cloud and cross-border mobile transactions to maintain system safety and inclusivity. en-us Thu, 28 May 2015 18:48:22 +0530 Thu, 28 May 2015 18:48:22 +0530 TaxTMI RSS Generator Indian Payments System Kaleidoscope (Valedictory address delivered by Shri S. S. Mundra, Deputy Governor, Reserve Bank of India at the International Conference on National Payment Schemes organised by NPCI on May 22, 2015) https://www.taxtmi.com/news?id=14550 Safe, secure and efficient payment systems are foundational to economic stability and must scale to process large retail volumes generated by inclusion initiatives. India's recent innovations-from interbank switches, RTGS/NEFT and cheque truncation to RuPay, Aadhaar-enabled payments and NUUP-have enhanced interoperability and access but impose capacity, cybersecurity and coordination challenges. Technology and mobile channels offer multi-channel delivery opportunities, yet heterogeneity of platforms and operational frictions slow adoption. Regulators must balance enabling innovation with oversight on non-bank participation, virtual currencies, cloud and cross-border mobile transactions to maintain system safety and inclusivity. News - Thu, 28 May 2015 18:48:22 +0530 https://www.taxtmi.com/news?id=14550