Central Banking

RBI’s Khan seeks balance between cost and safety in retail payments

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Financial inclusion programmes could be undermined by the additional costs implied by tighter regulation of retail payments systems, Harun Khan, a deputy governor of the Reserve Bank of India (RBI) said on February 14.

Khan said the Committee on Payment and Settlement Systems (CPSS) and International Organization of Securities Commissions (Iosco)'s Principles for Financial Market Infrastructures might be too stringent for India. Khan admitted that retail payments in India needed closer scrutiny

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