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

Author

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  • Balakrishnan, Mahadevan

    (Consultant on Payment Topics, USA)

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.

Suggested Citation

  • Balakrishnan, Mahadevan, 2015. "Indian payment systems and financial inclusion: Current status and next steps," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 9(3), pages 242-293, September.
  • Handle: RePEc:aza:jpss00:y:2015:v:9:i:3:p:242-293
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    More about this item

    Keywords

    payment systems; financial inclusion; India; factors that help to increase electronic payments;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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