RBI to introduce lightweight payment systems for natural disasters, war-like situations
Traditionally, payment systems such as RTGS, NEFT, and Unified Payments Interface (UPI) have relied on complex wired networks
Source: businesstoday.in
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RBI to launch new payment system for critical transactions during calamities, wars
The system, referred as Lightweight Payment and Settlement System (LPSS), will be independent of conventional technologies and can be operated with bare minimum staff, said the RBI annual report 2022-23.
Source: yourstory.com