Stress laid on promoting electronic mode of payments

As part of e-BAAT initiatives, the Reserve Bank of India conducted a workshop on “Electronic Mode of Payments” with a view to popularising electronic modes of payment.

The vision of the RBI is to proactively encourage electronic payment systems for ushering in a less-cash society in India and to ensure that payment and settlement systems in the country are safe, efficient, interoperable, authorised, accessible, inclusive and compliant with international standards.

The workshop was held at Infotech Academy, State Bank of Patiala (SBoP), wherein 60 participants of 36 banks having presence in Patiala attended the workshop. Bankers were apprised of the overview of payment systems in India and risk mitigation in Cheque Truncation System (CTS).

Need for promoting electronic mode of payments was stressed at the workshop and bankers were requested to contribute their best in fulfilling the vision of the RBI.

The workshop was interactive wherein questions by various bankers were answered by officials from the RBI and the National Payments Corporation of India (NPCI).

Shyam Kishore Agrawal, GM (SBoP), welcomed RS Amar, General Manager from the Reserve Bank of India, who inaugurated the workshop. Namrata Shukla, AGM (RBI), and Vipin Dwivedi, Senior Manager, NPCI, handled the sessions.  Sanjay Kumar, General Manager (RBI), handled the question and answer session with specific queries from the participants.  — TNS