Further, if too many participants rely on a single service provider, it may lead to a risk of over-concentration inasmuch as the failure of the service provider will be catastrophic. Banks will have to assess the pros and cons of new technologies and put in place adequate safe guards while adopting them.
Even so, the past 74 years have marked a historic journey for the Reserve Bank as it evolved from relatively modest origins to come to be acknowledged today as one of the most professional and responsive public policy institutions in the country.