While one of them talks about the “Gentle Monster Brussels,” the other praises the qualification and dedication of its bureaucracy. In light of the already existing multitude of opinions, let me offer just some brief observations on our current situation and on a possible way forward.
This involved, to begin with, taking the initiative to set up the basic infrastructural entities which provided the rails on which innovative products can run – IDRBT and NPCI, to name two. Regulation sought actively to facilitate wider participation to include non-banks (e.g. mobile wallets issued by non-banks) and increase interoperability among different payment systems.