Role of Credit Cards in the Payment and Settlement System in India
Keywords:
Payment and Settlement System, RBI, Credit Cards, CCIL, RTGS, Mobile Banking, Paper Clearing, PPI’sAbstract
Payment and settlement system is the most vital part of the economic system of a country. The payment system includes RTGS, CCIL Operated Systems, Paper Clearing, Retail Electronic Clearing, Credit Cards, Debit Cards, PPI’s etc. In India the payment system today is technologically superior and vibrant with multiple payment instruments. In cognizance with this background, the paper discusses with the credit card contribution towards total paysments in the country. This study is based on secondary source of information. Data for the years commencing from the financial year 2011-2018 have been used in this study. The tools used for analysis are OLS Regression. The fit of the model suggests that there is very high r square, and have overall significance.
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