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RBI Deputy Governor B P Kanungo Says Payments Space Has Become Crowded
June 01, 2018
Photo credit: European Parliament Technology – DG ITEC on Visual Hunt / CC BY-NC-SA
B P Kanungo, who is one of the deputy governors of the central bank RBI said that the nation might be having too many payment systems, some of which have even possibly overstayed their welcome. He said that some kind of consolidation is required for these payment systems and even suggested that exit routes are a good option.
Kanungo said that the poor condition of financial literacy is another major issue that’s prevalent all across the country.
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