Central Banking

RBI unveils vision for e-payments overhaul

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The Reserve Bank of India (RBI) has unveiled its latest three-year vision for payments in India, focusing on enhancing electronic payments and cutting costs.

The central bank says in its Vision 2021 document that its aim is to “empower” Indians with a “bouquet of e-payment options”. Payments should be safe, secure, convenient, quick and affordable – which implies a reduction in the use of cash and cheques.

The RBI plans to reach people who have yet to adopt electronic payments and says it

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