Reserve Bank of India has released a vision document ‘Payment and Settlement Systems in India: Vision 2019 – 2021’, with its core theme of ‘Empowering Exceptional E-payment Experience’ for ensuring a safe, secure, convenient, quick and affordable e-payment system.
The move comes as the apex bank expects the number of digital transactions to increase more than four times to 8,707 crores in December 2021. It envisages achieving “a highly digital and cash-lite society” through the goal posts of competition, cost-effectiveness, convenience and confidence (4Cs).
Static/Current Takeaways Important For LIC AAO Mains 2019:
- RBI 25th Governor: Shaktikant Das, Headquarters: Mumbai, Founded: 1 April 1935, Kolkata.