The year that wasn't: Reviewing Payments Regulations
summary
Claim: India shows 11% growth in electronic payments over the year, but ATM withdrawals back to pre-demonetization levels and cash use stays high. Regulation builds include an internal Payments Regulatory Board under the Payments and Settlement Act, partial interoperability via UPI and Bharat QR, and tightened rules like full KYC for wallets and MDR caps for small merchants. Measured tools are volume metrics, terminal counts (≈97% jump), escrow rules and limited liability windows; effects on real adoption and RTGS access remain unclear.
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chapters (13)
- 0:00Introduction
- 0:29Retail electronic payments
- 1:40ATM withdrawals
- 4:09Role of regulation
- 5:34RB Vision
- 8:41What has changed this year
- 9:37wattle committee recommendations
- 12:55independent payments regulatory board
- 15:44partial interoperability
- 19:09function vs regulation
- 21:53MDR
- 26:23Scorecard
- 26:59Impact of changes this year
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