RBI will push payment systems innovations with soft touch regulations: Guv

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RBI will push payment systems innovations with soft touch regulations: Guv - Business Standard

Quick Summary:

The Reserve Bank will continue to promote innovations in payment systems with soft touch regulations within regulatory guardrails and expand the reach of UPI for more efficient cross-border payments, Governor Sanjay Malhotra said on Monday.

In his address at the Inauguration of Digital Payments Awareness Week 2025 here, the governor said apart from the RBI, the government and other important stakeholders like banks and payment system operators have also taken a number of initiatives to encourage the adoption of digital payments.

"While these efforts have produced results, as visible in the huge growth of digital payments, there is still a lot more to be done.