Post demonetization, government has given the much-needed push for digital transactions to take-off in a big way. As the first step, the banking regulator Reserve Bank of India, through its division National Payment Corporation of India (NPCI), has built the railroads to set the digital payment system in motion. A.P. Hota spoke to Mint about the road map ahead in terms of awareness, customer protection and Unified Payments Interface (UPI), the most ambitions project of NPCI. Edited excerpts:
What is the infrastructure, or the railroads, that NPCI is building to put digital payments on the fast track this year? What would be some of the changes in terms of newer technologies and regulations?
The railroads that NPCI has built so far are in five broad categories.
