Indian payment systems and financial inclusion: Current status and next steps

Mahadevan Balakrishnan
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Mahadevan Balakrishnan: Consultant on Payment Topics, USA

Journal of Payments Strategy & Systems, 2015, vol. 9, issue 3, 242-293

Abstract: This paper provides a brief overview of the benefits of payment systems for economic growth and the benefits of electronic payment systems; it explains the various payment systems in India, and then analyses where India stands in terms of payment systems among select countries and emerging nations — BRICS. Then it goes on to explain the current status of financial inclusion in India and the various steps that could be taken to improve the use of electronic payment systems and furthering financial inclusion objectives.

Keywords: payment systems; financial inclusion; India; factors that help to increase electronic payments (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2015:v:9:i:3:p:242-293

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