At the same time we took a series of measures towards electronification of the payment systems in India. Today payment to India and across India happens in matter of seconds in a safe and secure manner. Secondly, we are proactively enabling alternate payment methods so that you are not required to carry or use physical cash. 21.
For step 1, the Council identified five key indicators for the build-up phase and two key indicators for the release phase. 22 In step 2, other quantitative and qualitative information was taken into account. Based on an overall assessment, the level of the buffer rate was determined in step 3.