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 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 .