Lightweight Payment System

• The Reserve Bank of India (RBI) has conceptualised a lightweight payment and settlements system, which can be operated from anywhere by a bare minimum staff in exigencies such as natural calamities or war.
• The infrastructure for this system will be independent of the technologies that underlie the existing systems of payments such as UPI, NEFT, and RTGS.
• Such a system could ensure near-zero downtime of the payment and settlement system in the country and keep the liquidity pipeline of the economy alive.
• It serves as a precautionary measure to be prepared for extreme situations and maintain the continuity of financial transactions.

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