BENGALURU: Reserve Bank Governor Shaktikanta Das on Monday said the central bank is constantly working on policies, systems, and platforms to make the country's financial sector strong, nimble and customer centric.
Addressing the RBI@90 Global Conference on 'Digital Public Infrastructure and Emerging Technologies, Das recalled various initiatives being taken by the RBI with regard to Unified Lending Interface (ULI) and Central Bank Digital Currency (CBDC).
The Governor also said that the UPI system has the potential to evolve into a cheaper and quicker alternative to the available channels of cross-border remittances and “a beginning can be made with small value personal remittances as it can be quickly implemented".
According to the Economic Survey tabled in Parliament in July, remittances to India, the second largest source of external financing after service exports, are projected to grow at 3.7 per cent to $124 billion in 2024 and at 4 per cent to reach $129 billion in 2025.
Das said the Reserve Bank of India is looking forward to the journey towards RBI@100 with considerable optimism.
"We are constantly working on devising policies, approaches, systems and platforms that will make our financial sector stronger, nimble and customer centric," he said.
Speaking on the theme of DPI and emerging technologies, he said over the last decade, the traditional banking system has undergone an unprecedented technological transformation.
By all indications, this process is likely to become even more intense in the coming years, he added.
Denne historien er fra August 27, 2024-utgaven av Millennium Post Delhi.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra August 27, 2024-utgaven av Millennium Post Delhi.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Cabinet approves Kovind panel's 'One Nation, One Election' plan
Sources suggest the Law Commission may recommend simultaneous polls for the Lok Sabha, state Assemblies, and local bodies starting in 2029
Cabinet approves Chandrayaan-4, Venus Orbiter, space station plans
In a significant development for India's space programme, the Union Cabinet, led by Prime Minister Narendra Modi, approved a series of ambitious space missions on Wednesday.
Lebanon is rocked again by exploding devices, nine dead
A second wave of explosions rocked Beirut and multiple parts of Lebanon on Wednesday, targeting electronic devices including walkie-talkies and solar equipment, according to Hezbollah officials and state media.
Junior docs cease work 'to continue', state 'assures solution'
Docs' to decide on next action after receiving minutes from the Chief Secy
J&K polls: Voter turnout 59% as first phase passes off peacefully
The first phase of Assembly elections in Jammu and Kashmir witnessed a historic voter turnout on Wednesday, with approximately 59 per cent of eligible voters casting their ballots.
India abstains on UN vote for Israeli withdrawal from Palestine
India on Wednesday abstained in the UN General Assembly on a resolution that demanded that Israel bring an end, \"without delay\", to its unlawful presence in the Occupied Palestinian Territory within 12 months.
Floods in parts of Bengal 'man-made' crisis: Mamata
Chief Minister Mamata Banerjee blamed the Centre on Wednesday for the flood-like situation in some parts of South Bengal and said that the \"man-made\" crisis occurred due to relentless \"noncooperation\" and \"indifference\" by the Union government.
L-G proposes Sept 21 for Atishi's swearing-in
Lieutenant Governor V K Saxena has proposed September 21 for the swearingin ceremony of Chief Minister-designate Atishi, following Arvind Kejriwal’s resignation from the post.
PM-AASHA scheme extended; Rs 24.4K cr fertiliser subsidy approved
In a significant move aimed at supporting India's agricultural sector, the Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the continuation of the Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA) with a financial outlay of Rs 35,000 crore.
University of Southampton commemorates plan to establish institute in Delhi-NCR
The University of Southampton celebrated the announcement of its new campus in India at a reception held at the British High Commissioner's Residence in New Delhi on Wednesday.
