Consumers make payments using credit cards, debit cards and they transfer funds electronically or shop online 22  BIS central bankers’ speeches  instead of paying by cash or bank cheque. I welcome this trend as another step towards a cash-lite society.
Click here to return to main document 45.1 A staff study visit to the Reserve Bank of India has led to a better understanding of the integrated system of data collection, storage and processing, using an automated system. It enabled the project team to prepare the Request for Proposal to invite bids for the envisaged system. The bids received are presently at evaluation stage.