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High compliance costs can trip digital payments

I would like to specifically highlight the parts of the Bill, which, if implemented, urgently can drive the digital payments industry to registering three-digit growth

Topics
Online Payments  |  Unified Payments Interface  |  Credit Score

Naveen Surya 

Naveen Surya

The draft of the Payment and Settlement System Bill (2018) has already attracted its share of controversy as evidenced by the differences over the composition of the ‘Payments Regulatory Board’ (PRB) and ‘Supervision Authority of Payment Systems’, both of which are currently under the control of the Reserve Bank of India (RBI).

The solution to this lies in on-boarding the right people who understand payment systems and can take a completely unbiased view in favour of this industry’s growth and consumer benefits therein, without bias towards any specific type of ...

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First Published: Wed, October 03 2018. 05:30 IST
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