The Reserve Bank of India (RBI) has released a vision document to ensure a more convenient, affordable, quick, safer and secure e-payment system.

• The RBI’s vision document is titled ‘Payment And Settlement Systems In India: Vision 2019 – 2021’
• Core Theme of Vision Document: Empowering Exceptional E-payment Experience.
• It envisages achieving “a highly digital and cash-lite society”. To achieve its objective the goal posts of RBI involves 4Cs, namely convenience, confidence, competition and cost-effectiveness.
• The bank will implement the approach outlined in this Vision Document during period 2019 – 2021.

It talks about creating customer awareness, setting up a a self-regulatory organisation and 24X7 operational helpline for system operators as well as for service providers, among others.