(More on this issue)  2  BIS central bankers’ speeches  Review of the MPC I had explained on several occasions the rationale for a thorough review of the functioning of the MPC in the light of its operating experience of four years. This was entrusted to Sir Alan Budd, a former Member of the Bank of England MPC.
Given this scenario, the RBI makes a conscious evaluation of the customer service and financial inclusion issues while approving any new innovation in the financial sector in general and payment system in particular.