RBI’s recent initiative in setting-up a Payment Infrastructure Development Fund (PIDF) to expand the reach of digital payments infrastructure into less penetrated regions is aimed at making payments more inclusive.
The emphasis of the Reserve Bank is on operationalising all our payment systems round the clock, 365 days a year and I am happy to say that with 24x7 NEFT and RTGS systems, we are among a few countries that provide the facility to transfer any amount at any point of time. 17.