Recently a vision document has been released on Payment And Settlement Systems In India which o...........

Economic Affairs Digital Economy

Recently a vision document has been released on Payment And Settlement Systems In India, which of the following statements is/are correct regarding the vision document-

1. It ensuring a safe, secure, convenient, quick and affordable e-payment system.

2. It is released by Reserve Bank of India (RBI) and will be implemented during period 2019 – 2021.

3. It is for the first time such vision document has been released.

Choose the correct answer using the code below-

1 and 2 only

1 and 3 only

1, 2 and 3 only

1 only

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Explanation:

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 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.

The previous vision document covered the period 2016 to 2018.