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New vision document proposed for payment system
The Reserve Bank of India (RBI) will soon be releasing a new vision document for the development of payment systems in the country, which will spell out the broader direction of regulation, its Deputy Governor R Gandhi said.
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Mumbai : The Reserve Bank of India (RBI) will soon be releasing a new vision document for the development of payment systems in the country, which will spell out the broader direction of regulation, its Deputy Governor R Gandhi said.
"The Reserve Bank is working on the next payment system vision document...now we are working out the next vision document which will cover what are the developmental initiatives the RBI should be encouraging the industry to do," he said speaking at a National Payments Corporation of India (NPCI) event here.
He said the RBI has been bringing out such vision documents for payment systems since 1998 and they have been covering a period of three years each. Preparing a new document is necessary as the current one ends in 2015, Gandhi added.
