Simple measures like provision of switch on / switch off facility for card transactions have positively impacted the trust of cardholders in digital payments. In all these initiatives, the Reserve Bank has kept customer convenience and safety as the prime objective. Other examples could be contactless card transactions, offline payments framework, e-mandate based transactions, Card-on-File Tokenisation (CoFT), etc. 5.
2/3  BIS central bankers' speeches  In closing, I would like to reinstate our aspiration, within the remit of our mandate and alongside central banks around the world, to act as a catalyst in the financial system, to accelerate the transition to an environment-friendly, carbon-neutral economy and enhance society’s resilience to climate change risks. Thank you. 3/3  BIS central bankers' speeches