According to 'Payment Systems in India- vision 2010' a report by the Reserve Bank of India, it has recognised the growing significance of e-commerce. It stated that making payments via mobiles can be used as an alternative method for Indian Payment Industry. RBI also talks about making ATM's more secure and accessible.
this is a good initiative from RBI's side as this would help people to make payments without much hassles. there would be no wasting of time by standing in ques to pay bills. people can remotely make payments even if they are not at that place. this will truly revolutionize e-commerce in the country.
this will definitely help to ease of banking service and funds transfer. we are slowly moving into a world which is busy and people find no time to spend on such tasks. now the payment of funds can be more easy and trouble free without spending much time on it. we need RBI to take more such stances to improve the services of banking.
