The extent of digital penetration can be gauged from the fact that, each day on an average, the payment systems in India process more than 10 crore transactions of nearly INR 6 lakh crore. Today, digital payments account for around 97 per cent of daily payment system transactions in terms of volume.
T2S, as a neutral and borderless shared settlement infrastructure, will yield positive scale effects, and it will promote competition in asset servicing, as CSDs strengthen their offerings in services other than settlement. Secondly, harmonisation, harmonisation will lead to further cost savings, transparency and foster competition in the value chain.