April 2016

FIPS 2015 – B K Das, General Manager, State Bank of India

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PAYMENT SYSTEM EVOLVED A LOT

The string that attaches customers with the banking system is the trust factor which comes from the safety and the security. And second is the ease factor.

Payment system has evolved in India in the last 15 years which has seen a tremendous growth. Creation of the National Payment Corporation of India was an important development. RBI’s vision document of 2012-15 outlines how one should move forward. There are two things, the existing system which fits for the current purposes what we are doing. And secondly a few things need to be considered.

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