The Indian government is reportedly considering creating a new regulator for electronic payment systems and for the regulation of transaction charges . However , the current regulator of the sector , the Reserve Bank of India , is reportedly not keen on giving up the responsibility . The move is being made due to concerns that regulations are becoming too bank - focused , and that a new regulator is needed to focus on transactions and the rationalisation of cost . Digital payments are booming in India as the government experiments with partial demonetisation .
The Indian government is reportedly considering creating a new regulator for electronic payment systems and for the regulation of transaction charges. However, the current regulator of the sector, the Reserve Bank of India, is reportedly not keen on giving up the responsibility. The move is being considered due to concerns that regulations are becoming too bank-focused, and that a new regulator is needed to focus on transactions and the rationalisation of cost. Digital payments are booming in India as the government experiments with partial demonetisation.