In addition, a number of specific economic features of the euro area strengthen the case for intra-area exchange rate stability and, ultimately, monetary union. First of all, most of the trade carried out by individual euro area countries takes place with other euro area countries.
The Reserve Bank of India has granted permission to StCBs and CCBs to participate in the payment system and offer RTGS/ECS/NEFT facilities to their customers/members. Since IT infrastructure is the prerequisite for offering these services, Core Banking Solution (CBS) is being implemented in StCBs and CCBs.