Is it time for the country to move away from rule based regulations to principle based regulations aimed at addressing stability and market abuse/failure concerns? A principle based regulatory framework has its own challenges.
Sustainability The sustainability depends a lot on efficiency and effectiveness (Principles 21 & 22 of the PFMI) of the system that meets the goals and objectives laid down by the payment system participants. Efficiency can be measured on three parameters, i.e., Cost, Time and Assurance.