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RBI unwilling to cede control over payments regulations

Watal panel had suggested an independent payments regulator be set up

Subhomoy Bhattacharjee  |  New Delhi 

The acceptance of the final report of a government committee on electronic payments, headed by former Finance Secretary Ratan Watal, has run into difficulties with the Reserve Bank of India (RBI) unwilling to cede its control over payment settlements to an independent regulator – as the committee has recommended.  H R Khan, former deputy governor of the central bank, has made his dissent clear in a note as a member of the committee.  The differences mean it will be difficult for the finance ministry to push for the more significant changes in the payment ...

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RBI unwilling to cede control over payments regulations

Watal panel had suggested an independent payments regulator be set up

Watal panel had suggested an independent payments regulator be set up The acceptance of the final report of a government committee on electronic payments, headed by former Finance Secretary Ratan Watal, has run into difficulties with the Reserve Bank of India (RBI) unwilling to cede its control over payment settlements to an independent regulator – as the committee has recommended.  H R Khan, former deputy governor of the central bank, has made his dissent clear in a note as a member of the committee.  The differences mean it will be difficult for the finance ministry to push for the more significant changes in the payment ... image
Business Standard
177 22

RBI unwilling to cede control over payments regulations

Watal panel had suggested an independent payments regulator be set up

The acceptance of the final report of a government committee on electronic payments, headed by former Finance Secretary Ratan Watal, has run into difficulties with the Reserve Bank of India (RBI) unwilling to cede its control over payment settlements to an independent regulator – as the committee has recommended.  H R Khan, former deputy governor of the central bank, has made his dissent clear in a note as a member of the committee.  The differences mean it will be difficult for the finance ministry to push for the more significant changes in the payment ...

image
Business Standard
177 22