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International training programme on digital payments inaugurated at NIBM

PUNE: A four-day lengthy International Training Programme on Digital Payments was once inaugurated within the city-based National Institute of banking Management on Wednesday. The programme has been organised in affiliation with NITI Aayog, Government of India.

Officials from the institute said that the programme has been organised within the backdrop of disruption led to by way of the emergence of digital bills world over. "Over the last 2-3 years, we have witnessed tremendous growth in digital transactions and the new payment modes have transformed the digital payment ecosystem with rapid increase in person to person and person to merchant payments. The programme will discuss various payment innovations in the digital space, associated emerging technologies and international best practices," the officers explained.

Member secretary, EAC PM and Principal Advisor, NITI Aayog, Ratan P Watal mentioned,"Today, the emerging economies are the drivers of digital payments and to ensure that people benefit from this, the Indian government has put in place a well-developed payment regulation and good physical infrastructure." He additionally emphasized on the need for capacity development in this area.

Executive Director of Reserve Bank of India, Ganesh Kumar highlighted the fact that other countries look as much as India for traits in digital bills. He further said that the future of digital bills depends upon parameters like protection, security, efficiency and value.

COO of National Payments Corporation of India, Ram Sundaresan spoke about the more than a few cost innovations brought out by way of NPCI additionally additionally the expansion rate of cost transactions within the recent previous.

Officials said that the programme, which is being attended by way of 40 members from India and neighbouring countries like Nepal, Bangladesh and Sri Lanka, may also discuss the importance of regulators in conjunction with the role of the federal government in boosting the digital bills ecosystem.

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