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What is Payments Vision 2025?

Reserve Bank of India (RBI) has released the “Payments Vision 2025”. 

Payments Vision

Reserve Bank of India (RBI) has been providing strategic direction and implementation plan for structured development of the payment and settlement systems in India through periodic Payments Vision documents right from the year 2001.

Payments Vision 2019-21

  • Core theme – Empowering Exceptional (E)Payment Experience
  • Vision Statement – Empower every Indian with access to a bouquet of e-payment options that is safe, secure, convenient, quick and affordable
  • Four goal-posts (4 Cs) – Competition, Cost, Convenience and Confidence
  • Specific action points – 36 
  • Expected outcomes – 12

Payments Vision 2025

Payments Vision 2025 builds on the Payments Vision 2019-21 and outlines the thought process for the period up to December 2025.

  • Core theme – E-Payments for Everyone, Everywhere, Everytime (4 Es)
  • Vision – Provide every user with Safe, Secure, Fast, Convenient, Accessible, and Affordable e-payment options (6 Attributes)
  • Five anchor goalposts – Integrity, Inclusion, Innovation, Institutionalisation and Internationalisation
  • Specific initiatives – 47
  • Expected outcomes – 10


References

Reserve Bank of India. (2019, May 15). 'Payment and Settlement Systems in India: Vision – 2019-2021'. Retrieved from https://www.rbi.org.in/Scripts/PublicationVisionDocuments.aspx?Id=921

Reserve Bank of India. (2022, June 17). 'Payments Vision 2025'. Retrieved from https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=53886

Reserve Bank of India. (2022, June 17). 'Payments Vision 2025'. Retrieved from https://www.rbi.org.in/Scripts/PublicationVisionDocuments.aspx?Id=1202


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