One of the features of RTGS that make it particularly relevant for modern consumers is that the transactions can be initiated through net-banking.
Under this new reign of digital payments, UPI interoperability is supposed to bellwether the payment industry, impact stakeholders and reduce complexities.
RBI has set up 21 ombudsman offices to facilitate the settlement of complaints regarding digital transactions.
The National Payments Corporation of India is a not-for-profit organization that aims to create nationwide standards for business and retail payments across India.