Question: Who among the following has published “Payment and Settlement Systems in India: Vision-2018”?
(a) Reserve Bank of India
(b) Ministry Of Finance
(c) NITI Ayog
(d) Ministry of Commerce and Industry
Ans: (a)
Related facts:
- On 23 June 2016 RBI published vision document named “Payment and Settlement Systems in India: Vision-2018”.
- The Vision-2018 aims at building best of class payment and settlement systems for a ‘less-cash’ India.
- The broad contours of Vision-2018 revolve around 5 Cs – coverage, convenience, confidence, convergence and cost.
- To achieve these, Vision-2018 will focus on four strategic initiatives such as responsive regulation, robust infrastructure, effective supervision and customer centricity.
- The Vision Document for emphasized on use of electronic payment options for Payment and Settlement rather than in cash.
- With increasing use of technology-based innovative payment products, the strategic initiatives under Vision-2018 are expected to reduce paper-based instruments significantly and lead to accelerated growth in mobile banking and other modes of electronic payments.
Reference:
https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=37308
http://indianexpress.com/article/business/economy/rbi-unveils-game-plan-for-a-less-cash-economy/
http://www.indiainfoline.com/article/news-top-story/rbi-publishes-%E2%80%9Cpayment-and-settlement-systems-in-india-vision-2018%E2%80%9D-116062400292_1.html