However, despite the various initiatives taken by the Reserve Bank, Securities & Exchange Board of India and Government of India, the corporate bond market is still a long way to go in providing adequate financing to the infrastructure sector in India.
We see beyond the immediate result of having affordable, fast and efficient payments. We anticipate (and are very excited about) several other benefits. These are: First, increased innovation of financial services; Second, lowered costs for businesses and for government; Third, faster economic development from accelerated velocity of payments; and Fourth, greater financial inclusion.