Accompanying charts can be found at the end of the speech. 1. It was in the Reserve Bank’s Payment Systems Vision 2005–08 document, which I was fortunate enough to draft, it was indicated that the focus would be on setting up of a new institution for all retail payment systems and operationalizing a national settlement system.
Though it will be a long time before economic historians can make an objective assessment of innovation in information and communications technology, which is still under way, there is no doubt that it has had a profound impact on economies and finance as a whole.