Speeches - Payment and Settlement Systems - RBI - Reserve Bank of India
Speeches
Digital Payments – Background and benefits 1. Payments are the lifeblood of commerce, enabling the flow of goods and services in an economy. They connect people, empower individuals and businesses, and drive economic growth. Quick, secure and reliable payments at affordable prices are the bedrock for a vibrant economy. Payments through digital modes support economic growth. They also deepen financial inclusion by overcoming barriers like high transaction costs and geographical limitations . In effect, digital payments are not just convenient but are also a powerful tool for economic empowerment and growth.
Digital Payments – Background and benefits 1. Payments are the lifeblood of commerce, enabling the flow of goods and services in an economy. They connect people, empower individuals and businesses, and drive economic growth. Quick, secure and reliable payments at affordable prices are the bedrock for a vibrant economy. Payments through digital modes support economic growth. They also deepen financial inclusion by overcoming barriers like high transaction costs and geographical limitations . In effect, digital payments are not just convenient but are also a powerful tool for economic empowerment and growth.
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Page Last Updated on: March 12, 2025
