Recently on December 16, 2019, we rolled out the 24x7x365 NEFT facility. With this, India has joined an elite club of a handful of countries having payment systems that ensure round the clock funds transfer and settlement on real time basis. For ease of settlement, RBI has also enabled liquidity support facility on 24x7 basis to participating banks.
I also want to emphasize that there is tremendous opportunity on the way forward for reducing costs by increasing volumes. Let me elaborate a bit. First, there is the demographic profile – the labour force in the 15–64 age group is going to increase.