The pilot exercise, which was carried out in 2019, ranked India’s payment systems leader in nine and strong in six categories.Īccording to the report, India reported the second-highest compounded annual growth rate (CAGR) of 21 percent (2017-2020), behind only Saudi Arabia, which registered an annualized growth of 26 percent. They have been identified as value payment systems and fast payment systems. Two out of the 16 categories specially relate to digital payments and highlight the rapid progress and advancement India has made in this field. Some of these aspects relate to the regulation of costs of payment systems, cheque instrument features, and the availability of alternate payment systems, among others. Tel.A leader is ranked 1st, 2nd, or 3rd, while strong denotes the top half of the countries other than the leaders. This MoU is a step forward in putting our joint efforts within a formal mechanism." He also expressed the hope that, “Going ahead, the MoU will enable us to further deepen our relations and facilitate our endeavor to make our financial systems accessible, inclusive and secure." He noted that, “Given our shared goals and challenges, it is only natural that we work together in many areas. Governor Shaktikanta Das appreciated the gracious Indonesian hospitality and commended the excellent logistical and organizational arrangements for the G20 FMCBG meeting. Going forward, I am convinced that such excellent partnership will result in fruitful outcomes that benefit both central banks and the people of both nations." It has been a long period of time since we began cooperating productively, and this MoU will only ensure a more solid collaboration in the future. Governor Perry Warjiyo emphasized, "This MoU serves as a significant milestone in the relation between Bank Indonesia and Reserve Bank of India. Such initiatives will be executed through (i) regular interaction on recent economic and financial developments and issues (ii) technical cooperation through training and joint seminars and (iii) joint work to explore the establishment of cross-border retail payment linkages. The MoU will also provide a good basis for promoting mutual understanding, developing efficient payment systems and achieving cross-border payment connectivity. The MoU will be implemented through policy dialogue, technical cooperation, exchange of information and joint work. With this MoU, BI and RBI committed to deepen relations between both central banks and strengthen the exchange of information and cooperation in the area of central banking, including payment systems, digital innovation in payments services, and regulatory and supervisory framework for Anti Money Laundering and Combating the Financing of Terrorism (AML-CFT). The MoU was signed by BI Deputy Governor Dody Budi Waluyo and RBI Deputy Governor Michael Debabrata Patra in the presence of BI Governor Perry Warjiyo and RBI Governor Shaktikanta Das. Second OMFIF Asian Central Bank’s Watchers Conference Tenth Bank Indonesia Annual International Seminar “Asia as an Engine for World Growth: Investment Focus Indonesia”īank Indonesia (BI) and the Reserve Bank of India (RBI) signed a Memorandum of Understanding (MoU) on Jin Bali, Indonesia, on the sidelines of the G20 Finance Ministers and Central Bank Governors Meeting to improve mutual cooperation between the two central banks.BI-RTGS, BI-SSSS, and SKN-BI Operates Normally.Announcement of The Result of 1 Month and 3 Months SBI Auction for 5 October, 2005.Basel II and Financial Stability : 'Preconditions and Implementation Challenges'.Executive Summary Progress On Post-IMF (white Paper) Bank Indonesia Action Plans (period: April – June 2004). ![]() Issuance and Circulation of Commemorative Rupiah Uncut Notes.Announcement of The Result of 1 Month SBI Auction for December 28, 2005.Announcement of The Result of 1 Month SBI Auction for November 23, 2005.Announcement of The Result of 1 Month SBI Auction for September 21, 2005.Announcement of The Result of 1 Month SBI Auction for November 16, 2005.Announcement of The Result of 1 Month SBI Auction for December 7, 2005.Announcement of The Result of 1 Month SBI Auction for February 1, 2006.Adjusting the Minimum Holding Period on Bank Indonesia Certificates.
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