RBI Unveils Payment Vision 2028 to Strengthen Digital Ecosystem
In March 2026, the Reserve Bank of India (RBI) unveiled its ‘Payment Vision 2028’ document, titled ‘Shaping India’s Payment Frontier’, outlining a roadmap to strengthen and expand India’s rapidly growing digital payments ecosystem.
In March 2026, the Reserve Bank of India (RBI) unveiled its ‘Payment Vision 2028’ document, titled ‘Shaping India’s Payment Frontier’, outlining a roadmap to strengthen and expand India’s rapidly growing digital payments ecosystem.
- The RBI has been periodically preparing Payments Vision since 2001.
About Payment Vision 2028:
Focus: The 2028 vision document focuses on user empowerment, safeguards against fraud, efficiency of cross border payment frameworks and promoting ease of doing business.
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- It consists of 15 specific initiatives.
Duration: The vision document charts a roadmap for the next three years, extending up to December 2028.
New Initiatives: The RBI proposed multiple initiatives to strengthen the payments ecosystem, including a switch on/off facility for digital payments, development of an efficient cross-border (CB) payments framework with a single-window authorisation process, and introduction of a Shared Responsibility Framework (SRF) for fraud liability.
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