competition success review annual subscription
competition success review annual subscription Published this article page no 86 Institutional mechanism InterMinisterial Committee (IMC) and Steering Committee for Growth and Development of Technical Textiles (SCGDTT) have been setup to constantly review monitor and take necessary action for promoting the technical textiles. 3.7. RISE IN DIGITAL PAYMENTS Why in news? Recently a study by RBI on Assessment of the progress of digitisation from cash to electronic was released. Key findings of the report Digital payments in the country have witnessed a Compound annual growth rate of 61% and 19% in terms of volume and value respectively over past five years demonstrating a steep shift towards digital payments. 72% of Indias consumer transactions take place in cash double the rate as in China. Demand for highvalue denominated currency has outpaced lowvalue denominated currency and this phenomenon may indicate that cash is increasingly used as a store of value and less for making payments. Cash in circulation (CIC) as a percentage of GDP is 11.2% in 201819 which is less than predemonetisation level of 12.1% in 201516. Note – This data can be supplemented with Digital Finance Article covered in December 2019. New RBI announcements on Payment and Settlement System Digital Payments Index (DPI) The Reserve Bank shall construct and periodically publish a composite DPI to capture the extent of digitisation of payments effectively. The DPI would be based on multiple parameters and shall reflect accurately the penetration and deepening of various digital payment modes. The DPI will be made available from July 2020 onwards. Framework to Establish SelfRegulatory Organisation (SRO) for Digital Payment System RBI will put in place a framework for establishing an SRO for the digital payment system by April 2020 with a view to fostering best practices on security customer protection and pricing among others. The SRO will serve as a twoway communication channel between the players and the regulatorsupervisor competition success review annual subscription buy.
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