Since it started its operation in 1973, the Zengin System has allowed near real-time payment services during the daylight hours of working days, and has long been regarded worldwide as one of the most advanced retail payment services provided to customers.
I have highlighted a few concerns that have caused me to introspect considerably on the future of the global monetary and financial system, especially as we confront these challenges on a day-to-day basis at the RBI. A global search for effective solutions is underway.