What’s in the news?

• The Reserve Bank of India (RBI) has released “Payments Vision 2025” with the core theme of ‘E-Payments for Everyone, Everywhere, Everytime’ (4Es) with an objective to provide every user with safe, secure, fast, convenient, accessible and affordable e-payment options.
• It promises to further elevate India’s payment systems towards a realm of empowering users with affordable payment options accessible anytime and anywhere with convenience.
• This will also reinforce India’s position as the global leader in the digital payments domain.
• Considering the current geo-political developments across the world, the Payments Vision 2025 document also seeks to address the potential risks arising out of any adverse situation that may arise.
• It has been prepared after considering the inputs from various stakeholders and guidance from the Board for Regulation and Supervision of Payment and Settlement Systems of the RBI. 
• The activities to be taken up during the period up to 2025 as part of Vision 2025 are captured across five anchor goalposts of Integrity, Inclusion, Innovation, Institutionalisation and Internationalisation. 
• Payments Vision 2025 builds on the initiatives of Payments Vision 2019-21. The RBI said it has been providing strategic direction and implementation plan for structured development of the payment and settlement systems in India through periodic Payments Vision documents right from the year 2001.

Reference

https://www.thehindu.com/incoming/rbi-unveils-payments-vision-2025-with-focus-on-e-payments/article65537421.ece