The enormity of the numbers that we are looking at can be gauged if the present subsidy schemes of the Government are brought into electronic payment modes. From the data available with us, the present government subsidies amounting to Rs.2.97 lakhs crore would alone translate into approximately 3810 million transactions per year.
This would in turn add 12 to15 million transactions to the payment systems over and above the transactions already being processed on a daily basis. RBI is seized of this challenge and is already contemplating measures to strengthen the payment system infrastructure at the processing sites.