This would enable the customers of RRBs to enjoy the same benefits of anywhere and anytime banking and the use of multiple payment delivery channels such as RTGS, NEFT, ECS, ATMs, internet, telebanking, mobile and SMS banking etc. Payments as a revenue model getting attention: There is growing feeling that increased competition has commoditised the payment services undermining its profit generating ability.
I know very well that there are legal considerations making it difficult to achieve this. But we should push the boundaries here to ensure that the regulations of fintech are as effective as possible. At global level, the FSB has a key role in ensuring an overall consistent approach, and for bringing all the necessary expertise together.