RBI Releases Report On ‘Benchmarking India’s Payment Systems’

The report on ‘Benchmarking India’s Payment Systems’ which was released mentions that the country is “strong” in areas like having necessary laws and cash in circulation per capita.

The report provides a comparative position of the payment system ecosystem in India relative to comparable payment systems and usage trends in other major countries. The report adds that India needs to make more efforts to decrease the volume of paper clearing and increase acceptance infrastructure to promote digital payments.

Source- News On AIR

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