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Digital payments - background and benefits

· Sanjay Malhotra, Governor of the Reserve Bank of India (India)

Summary written by Dark Majestic in its own words · topics: payments, digital money and crypto-assets, growth, investment and productivity, technology, ai and cyber risk

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· Sanjay Malhotra Wiki · Reserve Bank of India WikiDigital payments - background and benefits

ContextAddress by Sanjay Malhotra, Governor of the Reserve Bank of India, at the inauguration of Digital Payments Awareness Week 2025, held at the Reserve Bank of India, Mumbai, 10 March 2025.

Why it mattersIndia's governor describes the light-touch approach behind the country's digital payments boom.

Problems raised
  1. Some regions lag in digital payments.
  2. Cross-border payments are costly and slow.
  3. Innovation brings risks.
Solutions proposed
  1. Keep light-touch regulation to promote innovation.
  2. Raise awareness in lagging areas.
  3. Improve cross-border payments.
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