........Last month, while speaking at a seminar on “Principles for Financial Market Infrastructures and Innovations in Retail Payment Systems”, Harun R Khan, Deputy Governor, RBI said, “Although, the recent financial crisis did not show any strong evidence of correlation between payment systems and financial stability, going forward, payment systems, both large value and retail, could be the source of instability when the financial transactions moves largely to electronic mode that gives rise to several operational and financial risks.” .......
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