Learning from past experiences, banking system stability is a primary aspect that must be maintained to ensure sustainable national economic growth. Volatility in one bank can quickly spread and affect public confidence in the banking system itself and also the economic system as a whole.
Today, all commercial banks and some tier 2 financial institutions use the RTGS to handle high value transactions. All government payments are carried out using the EFT system. However, in spite of these achievements, cash remains the predominant and preferred method of settlement. Only about 3 million bank accounts are operated for a population of over 30 million people.