In order to address the implementation issues and facilitate formulation of operational guidelines to facilitate the IFRS convergence for the Indian banking system the RBI has formed a Working Group.
– Aware of the significance of a national card scheme for independence from global card systems and for the lower costs of payment services, we are constantly modernising the domestic DinaCard. Exceptionally important for us is the vibrant cooperation with China UnionPay, which enables worldwide access to the national DinaCard system.