Payment Systems & Financial Inclusion : Recent Trends , Challenges & Emerging Issues
Payment Systems & Financial Inclusion :
Recent Trends , Challenges & Emerging
Issues
Harun R Khan
Deputy Governor
Reserve Bank of India
November 25, 2012
Pune
ISIEmergingMarketsPDF in-iitdms from 180.149.52.43 on 2013-01-10 07:00:48 EST. DownloadPDF.
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Role of Payment Systems in FI
Simplistic definition
the way we make and receive payments using different payment instruments
Payment systems act as a catalyst in financial inclusion
Enabling payment systems to provide safe, efficient, affordable, easily accessible and technologically robust payment services to the unbanked
Stepping stone for other bouquet of financial services, such as, savings, credit, remittance and insurance possible by creating enabling features.
2
ISIEmergingMarketsPDF in-iitdms from 180.149.52.43 on 2013-01-10 07:00:48 EST. DownloadPDF.
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Payment Systems in India:
Vision 2012-15
To proactively encourage electronic payment systems for ushering in a less-cash society in India and to ensure payment and settlement systems in the country are safe, efficient, interoperable, authorised, accessible, inclusive and compliant with international standards.
3
ISIEmergingMarketsPDF in-iitdms from 180.149.52.43 on 2013-01-10 07:00:48 EST. DownloadPDF.
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Payment Systems in India:
Vision 2012-15
RBI’s renewed commitment towards providing:
A safe, efficient, accessible, inclusive, interoperable and authorised payment and settlement systems for the country.
A payment systems to be driven by customer demands of convenience ease of use and access
Convergence
Recent Trends , Challenges & Emerging
Issues
Harun R Khan
Deputy Governor
Reserve Bank of India
November 25, 2012
Pune
ISIEmergingMarketsPDF in-iitdms from 180.149.52.43 on 2013-01-10 07:00:48 EST. DownloadPDF.
Downloaded by in-iitdms from 180.149.52.43 at 2013-01-10 07:00:48 EST. ISI Emerging Markets. Unauthorized Distribution Prohibited.
Role of Payment Systems in FI
Simplistic definition
the way we make and receive payments using different payment instruments
Payment systems act as a catalyst in financial inclusion
Enabling payment systems to provide safe, efficient, affordable, easily accessible and technologically robust payment services to the unbanked
Stepping stone for other bouquet of financial services, such as, savings, credit, remittance and insurance possible by creating enabling features.
2
ISIEmergingMarketsPDF in-iitdms from 180.149.52.43 on 2013-01-10 07:00:48 EST. DownloadPDF.
Downloaded by in-iitdms from 180.149.52.43 at 2013-01-10 07:00:48 EST. ISI Emerging Markets. Unauthorized Distribution Prohibited.
Payment Systems in India:
Vision 2012-15
To proactively encourage electronic payment systems for ushering in a less-cash society in India and to ensure payment and settlement systems in the country are safe, efficient, interoperable, authorised, accessible, inclusive and compliant with international standards.
3
ISIEmergingMarketsPDF in-iitdms from 180.149.52.43 on 2013-01-10 07:00:48 EST. DownloadPDF.
Downloaded by in-iitdms from 180.149.52.43 at 2013-01-10 07:00:48 EST. ISI Emerging Markets. Unauthorized Distribution Prohibited.
Payment Systems in India:
Vision 2012-15
RBI’s renewed commitment towards providing:
A safe, efficient, accessible, inclusive, interoperable and authorised payment and settlement systems for the country.
A payment systems to be driven by customer demands of convenience ease of use and access
Convergence