RBI’s Gandhi hails ‘silent revolution’ in payments
Initiatives such as unified mobile payments interface set to deliver further change
India has undergone a "silent revolution" in payments through incremental changes over the past 35 years, with more developments set to come, said Reserve Bank of India (RBI) deputy governor R Gandhi during a speech in Varanasi on October 22.
Addressing Banaras Hindu University, Gandhi said improved cheque truncation and electronic payments have steadily revolutionised payments over the years, and mobile banking is now opening up a new front for change.
Mobile banking in India had been operating
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