Progress in electronic payment systems There has been substantial improvement in the payment system infrastructure and consumers’ payment patterns over the last few years, particularly in urban areas, which is evident from the exponential growth in Automated Teller Machines (ATM) Cards, Debit & Credit Cards, ATM outlets, Points of Sales (POS) accepting payments through cards and number of online branches of commercial banks providing SWIFT intra bank account to account funds transfer facilities and the interconnectivity of the two ATM switches viz.
Let me highlight some of the initiatives that the IMF undertook in response to requests from the G-20. Firstly, the IMF’s lending capacity was boosted to ensure that it would comfortably meet the ever-increasing financing needs of countries hit by the global financial crisis, thereby strengthening global economic and financial stability.