Today, the average gross daily turnover is nearly 2.5 trillion, an expansion by a factor of 500. Similarly, the volume of transactions that stood at just a few thousand on average per day when we started the RTGS has today increased to well over 200,000 per day.
We are now focusing on graduating to the Next-Gen RTGS system with enhanced liquidity saving features and faster and higher processing capabilities. RBI’s approach to responsible regulation 18. Having indicated what the Reserve Bank has done to modernize the payment and settlement systems, let me now move on to RBI’s approach towards being a “Responsible Regulator” in this area.