Here, at the Reserve Bank of India (RBI), we have traversed a steep learning curve over the last several years, and come a long way in implementing an efficient and effective payment system. I am deeply conscious of the fact that we still have a long way to go.
On the way forward, we are challenged by the fact that the unknown unknowns are larger than the known unknowns, which in turn are larger than the known knowns. Our task on the way forward really is to learn from the international best practices and adapt them to the Indian context. Seminars such as this are, therefore, very rewarding learning experiences for us.