Feasibility of expanding RTGS to settle transactions can be explored: Das

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Feasibility of expanding RTGS to settle transactions can be explored: Das - Business Standard

Quick Summary:

India and a few other economies have already begun efforts to expand the linkage of cross-border fast payment systems in both bilateral and multilateral modes, the governor said, speaking at a high-level conference organised by the RBI in Delhi.

The RBI governor also highlighted that remittances are the starting point for many emerging and developing economies, including India, to explore cross-border peer-to-peer (P2P) payments.“We believe there is immense scope to significantly reduce the cost and time for such remittances,” he said.

Further, the private credit markets have expanded rapidly with limited regulation, posing significant risks to financial stability, particularly since they have not been stress-tested in a downturn, Das warned.