India's Subbarao sees key role for retail payments
Retail payments are going to be the drivers of the future payment and settlement architecture, said Duvvuri Subbarao, the governor of the Reserve Bank of India.
Subbarao said that as retail payments were going into large-scale expansion new issues would emerge. He said that the demarcating line between the large-value and the retail-payment systems was getting blurred and called for increased efforts to set up benchmarks even for retail-payment systems. He said that, considering the risks
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