Dr. Rangarajan’s monetary policy of April 1997 announced a package of measures permitting multiple banking arrangements for the corporates and providing greater operational freedom to the banks.
Now, we are ready to extend the reach of the enhanced retail payments of the Philippines beyond our borders. A seamless cross-border payment system can facilitate remittances, tourism, trade and investments. All of these activities have fueled our country’s development before the pandemic. And they would also be vital for our post-pandemic recovery.