As announced in the “Second Quarter Review of Monetary Policy” we are in the process of preparing a Discussion Paper on the methods aimed at disincentivising the issuance and usage of cheques in India and placing this paper in the public domain for comments.
They raise new questions about whether the ECB should drive initiatives to integrate retail payments in Europe, and even whether it should issue a digital euro. We have a duty to play an active role in balancing the risks and benefits of innovation in payments, so that money continues to serve Europeans well.