Rajan promises bold reforms, quick action
Our task today is to build a bridge to the future, over the stormy waves produced by global financial...
Our task today is to build a bridge to the future, over the stormy waves produced by global financial markets. I have every confidence we will succeed in doing that
* In order to protect households against rising consumer price inflation, the RBI will issue inflation-indexed saving certificates which will be linked to CPI by Nov 2013
* There will also be a Giro-based bill payment system where households can pay utility bills, school fees etc anywhere and at any time
* White-label ATMs will also be increased pan India
* Pre-paid cards will be used for remittances and cash payments along with Aaadhar
* RBI will also explore mobile-based payments where encrypted SMS can be used for fund transfers and mobile payments across telecom service providers and handsets