lovebet helpline number india
1573 lianhuanduobao,24k88 platform,613 galaxy web,a soccer lottery master for asian handicap,all sports market,arcade real money fishing game,baccarat 6 cup espresso maker,baccarat duanlan probability,baccarat meaning in telugu,baccarat that cannot be played on bull sports official website,baiwei real person casino,bbin official url,best of five squash zone club,betting id,betway jobs india,blue shield online live entertainment hall,bofa entertainment real people platform,bulgari real person casino,candy party baofen rules,candy party super color balls,cash real people casino,casino house,casino yonkers,chess 0800,chongqing lianhuanduobao post it,cricket 07,cricket quick pay,crown real money side bet guide,dafa shishi lottery join in,dafa888 poker joint venture,dejin international official website,dota2 match gambling,ek number ki patti,electronic gaming free experience gold,esports evolution llc,European Cup semi-final list,first deposit 9 give away 9 bonus,Football game betting tips,football lottery close to the app,football lottery odds chart,football lottery quiz optional 9 winning,football lottery theory odds,foreign purchase football lottery website,fruit slot machine function,fun88-yo,galaxy electronic founder,galaxy haitong account opening,galaxy taojiao official website,gambling website sign up give away prize,give away bonus 38 can be withdraw,golden sand bay card game club,golden sand vip club card game,guanjiapo,happy farmer kitchen,hilton electronic games,how bo casino,how to look at candy party,huangbo international entertainment,indiabet helpline number,Is baccarat analysis software useful?,jackpot song download pagalworld,jingcheng real people sign up,jumpover instant give away bonus,La Liga live news,league of legends online gambling,lianbo entertainment platform,lianhuanduobao on points,lijingwan casino,lisboa gambling market platform,live blackjack stream,live mobile down score game,lottery 04 may 2021,lottery south carolina,lovebet 9ja,lovebet kyc documents,lovebet username change,lucky winning slot machine,macau baccarat shualiushui,macau galaxy car race sign up,macau golden sand casino address,macau lisboa gambling online,macau playing slot machine grand prize,macau the parisian entertainment casino,macau yongli entertainment official website url,meizhongbole children,mingsheng online betting,money-making betting website,nba live video channel,new2 official website,niuniusikao official website registration,Online Baccarat at Winner,online casino offers,online gambling real people story,online macau golden sand official website,online real person card game,oubo sports app download,penhuolong slot machine rules,poker 6+ rules,poker world,pt slots 11 bonus,quanxun new2 web give away bonus,real madrid international casino,real money three cards official casino,real people three cards can withdraw,Reputable Football Betting Network,royal rumble,rummy mobile on,saba online international,shenbo side bet market,sic bo playing method chart,slot automatic give away bonus,slot machine game coin change money,slot machine reload card score machine,slots jerry,soccer lottery betting,soccer lottery quiz payout ratio,sports 4k wallpaper,sports lottery soccer betting proportion,sportsbook jobs canada,supreme galaxy official website sign up,Texas Hold'em Agents,the hottest slot machine platform,the venetian hotel booking centre,tianma online casino,toronto casino,var. football,wanbo epl sports app download,weibo international casino,what is the meaning of 4 in 1 play,Which is the fastest withdrawal of baccarat,world cup international market,wynn palace sign up give away,xinhaotiandi casino electronic gaming,yaoyaole slot machine game,yiyou slot machine forum,yunding cash account opening
,RBI unveils Payments Vision 2025 with intent to increase e-payments
lovebet helpline number india
RBI unveils Payments Vision 2025 with intent to increase e-payments
Follow us on
The core theme of the vision documents is E-Payments for Everyone, Everywhere, Everytime
The volume of cheque-based payments are expected to be less than 0.25% of total retail payments
UPI is expected to register average annualised growth of 50% and IMPS/ NEFT at 20%
The RBI on Friday came out with its 'Payments Vision 2025' document which seeks a three-fold jump in the number of digital payments, increase in debit card usage and less cash in circulation. The document also talks about ring-fencing of domestic payment systems, including the need to mandate domestic processing of payment transactions, in view of the emerging geopolitical risks.
The core theme of the vision documents is 'E-Payments for Everyone, Everywhere, Everytime' (4Es) with an overall objective to provide every user with safe, secure, fast, convenient, accessible and affordable e-payment options. "Payments Vision 2025 has been prepared after considering the inputs from various stakeholders and guidance from the Board for Regulation and Supervision of Payment and Settlement Systems of the RBI," the central bank said in a statement.
The activities to be taken up during the period up to 2025 as part of Vision 2025 are captured across five anchor goalposts of integrity, inclusion, innovation, institutionalisation and internationalisation, it said. They cover 47 specific initiatives and 10 expected outcomes. Payments Vision 2025 builds on the initiatives of Payments Vision 2019-21. As per the document, the expected outcomes include volume of cheque-based payments to be less than 0.25 per cent of the total retail payments and more than 3 times increase in number of digital payment transactions.
It expects UPI to register average annualised growth of 50 per cent and IMPS/ NEFT at 20 per cent, and increase in debit card transactions at PoS by 20 per cent. It is also expected that debit card usage would surpass credit cards in terms of value, and card acceptance infrastructure would increase to 2.5 crore. There would also be reduction in Cash in Circulation (CIC) as a percentage of GDP. National Electronic Funds Transfer (NEFT) system is available round the clock throughout the year and NEFT is presently operated in batches at half-hourly intervals throughout the day.
"To further reduce the settlement risk as also to improve efficiency by making the payments near-real time, the frequency of batches in NEFT shall be reviewed and increased," the document said. Its specific intiatives also include introduction of payee name look-up, a service for checking the beneficiary's actual name for other funds transfer systems such as NEFT, Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS). Currently, only UPI has a facility for the payer to check and confirm the name of the account holder being paid before making the payment.
It further said that with the growing adoption of digital payment modes, there is a rise in digital payment frauds. Inspite of the efforts of stakeholders, recovery rate of defrauded amounts is not very encouraging. "With an aim to provide a security cover to defrauded customers/issuers of payment instruments, a study on scope/feasibility of creation of DPPF shall be undertaken," the vision document said. Presently guidelines are in place for domestic storage of payments data. Banks and non-bank PSOs are allowed to process payment transactions abroad subject to certain conditions.
"Keeping in view the emerging geopolitical risks, options shall be explored to ring-fence domestic payment systems, including the need to mandate domestic processing of payment transactions," the document said. The Reserve Bank would also undertake a comprehensive review of all aspects related to charges involved in various channels of digital payments. The feasibility of expanding RTGS to settle transactions in major trade currencies such as dollar, pound, and euro, too would be explored through bilateral or multilateral arrangements, it said.
On Central Bank Digital Currencies, the document said CBDC has been gaining much traction with 86 per cent of the central banks globally reviewing its feasibility for cross-border transactions as well as for internal benefits. CBDC is also an area of interest for G20 under its priority initiative to enhance cross-border payments. "Reserve Bank is working towards introduction of CBDC in India. Various use cases shall be studied and explored to bring in further efficiencies in domestic and cross-border payment processing and settlement using CBDCs," it said. Over 26 crore digital payment transactions are processed daily by the payment systems, of which Unified Payments Interface (UPI) system itself processes more than two-thirds.
ALSO READ | RBI not behind curve; tolerance of high inflation was necessity: Shaktikanta Das
ALSO READ | Markets decline for 6th day; Sensex sheds 135 points, Nifty below 15,300