Reserve Bank of India's Vision for Payment Systems in India - 2009-12:
Join Banknet Payments Conference on 22nd Jan 2010 at Mumbai

India's payments industry has revenues of nearly $14 billion and is poised for a major growth. The rapid advancements in the field of information technology (IT) have contributed to emergence of new products as well as methods of payment and settlement. In recent years, the use of electronic payments has witnessed manifold increase, partly reflecting increased adoption of technology.

Reserve Bank of India (RBI) has recently released it's Draft Document on the "Payment Systems in India - Vision 2009-12". The Mission Statement articulated for payments system focuses on six distinct and succinct components- Safety, Security, Soundness, Efficiency, Accessibility & Authorisation.

The retail payment system includes cheque Clearing, retail electronic fund transfer and card payment. The Cheque Truncation System (CTS) was implemented in the National Capital Region in February 2008 to enhance the efficiency of the paper based clearing system. Between end-March 2009 and end-September 2009, the branch network of national electronic funds transfer (NEFT) enabled banks increased from 54,200 to 60,839 and the RTGS enabled branches increased from 55,000 to 60,144. As at end-September 2009, 114 banks with 30,780 branches have been participating in national electronic clearing service (NECS) which was introduced in September 2008.

SCBs and non-bank entities are now permitted to issue pre-paid payment instruments. In August 2009, other entities were also permitted to issue mobile phone based semi-closed system pre-paid instruments for a maximum value of Rs.5,000. Since October 8, 2008, the Reserve Bank has so far granted approval to 32 banks to provide mobile banking facilities to their customers. Cash withdrawal from Automated Teller Machines (ATMs) of the banks was made free of charge with effect from April 1, 2009.

Banknet's "Sixth Annual Conference on Payments" on the 22nd January 2010 at Taj Lands End, Mumbai will be the first major conference to focus on RBI's Vision for Payments Systems in India for 2009-12. Previous Five Annual Payment Conferences of Banknet had more than 1700 participants, which included representation from nearly every major bank in India.

Conference will have four informative & interactive sessions to discuss and review issues, developments & trends in payment systems & alternate channels. Speaker Presentations in each session will be followed by a Panel Discussion & Interactive Q & A.

This will be followed by Banknet Master Class. Conference will also showcase technology products in an exhibition in the pre-conference area.

Conference will deliberate on- RBI's Vision for Payment Systems, RTGS, NEFT, NECS, Cheque Truncation Systems, Clearing & Settlement Systems, Financial Inclusion, Customer Service, Financial Frauds, Cyber Security, Internet Banking, Mobile Banking & Payments, M commerce, ATMs, Card Payments etc.

If you want more information on the Largest Annual Payments Conference in India, mail us at Or Click here

"Banknet Conferences, are one of the largest organizers of Banking and Technology Conferences from India. Banknet Conferences organizes series of highly focused conferences, seminars and workshops, which provide a platform for knowledge sharing and networking for the professionals. Being part of "Banknet Group" it has access to relevant industry research, information and large database of professionals. More than 700 Financial Institutions / Companies from 24 countries had been represented at Banknet Conferences. This included delegates from nearly every major bank in India. Banknet Conferences had been supported by more than 100 major IT Companies and Financial Institutions from 11 countries "