This has helped Reserve Bank to promote an orderly payment system structure in the country. Safety Safety and soundness of the Retail Payment Systems is of prime importance. Safety boosts confidence in the system. One of the basic principles of safety is identifying the risks and responsibilities of various stakeholders and managing it effectively (Principle 3 of the PFMI).
Risks like credit (Principle 4 of the PFMI), collateral (Principle 5 of the PFMI), margin (Principle 6), liquidity (Principle 7), operational (Principle 17) and business risks (Principle 15 of the PFMI) remain as major challenges before the system participants and system operators of the Retail Payment Systems.