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THOUGHT LEADERSHIP

Reaching for the stars - Credit and Debit Card transactions in India - Q3FY13 - February 2013

In the Reserve Bank of India's (RBI) 'Payment System Vision Document 2012-2015' released in July 2012, the RBI laid out the vision for a less-cash society where electronic payments are increasingly used for goods and services - empirical research shows that electronic payments contribute more to economic growth than physical payments because of the attached transaction costs. It seems that consumers are more than willing to oblige the RBI in its quest. [...]