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RBI releases payments systems roadmap for a cash-lite India

Thursday, May 16, 2019, 8:22 PM

A four-fold increase in digital payments, reduction in paper-based transactions, improved pricing, better customer grievance redressal mechanisms and establishment of new payment system operators (PSO) are among the list of twelve objectives the Reserve Bank of India seeks to achieve in the next three years. RBI sees sixfold increase in card-based transactions in next 3 years, propelling economy to a 'cash-lite' one.
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Ola launches credit card, targets 10 mn cards by 2022

Wednesday, May 15, 2019, 3:57 PM

Soon after Paytm's foray into the credit card business, Softbank-backed ride hailing firm Ola has also taken the plunge with the launch of its credit card in partnership with public lender State Bank of India on May 15. With this launch while Ola gets to widen its financial products base. The company is targeting to issue 10 million cards by the end of 2022.
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RBI sets up panel under Nandan Nilekani to boost digital payments

Tuesday, January 8, 2019, 7:27 PM

The Reserve Bank of India Tuesday constituted a high-level committee under Aadhaar architect Nandan Nilekani to suggest measures to strengthen the safety and security of digital payments in the country. The five-member panel on deepening of digital payments has been constituted with a view to encourage digitisation of payments and enhance financial inclusion through digitisation, the RBI said in a statement.

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