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Card use will return to demonetisation levels: AP Hota, NPCI

Card use will return to demonetisation levels: AP Hota, NPCI

Finance
MUMBAI: AP Hota has played a major role in developing India's electronic payment platforms -first as head of Reserve Bank of India's newly-created department of payments in 2005 and, since 2008, as the founding CEO of the National Payments Corporation of India (NPCI). In an interview with TOI, Hota speaks on the future direction of payments and the evolving regulatory approach. Excerpts: How did regulation turn out to be friendly towards innovation in payments?The starting point has been the Sudarshan Sen committee on regulating fintech companies constituted by the RBI Regulations are changing al over the world -gradually central banks are moving from rule-based regulation to principle-based regulation.When you adopt the principle, you allow a lot of flexibility in allowing innovation. ...