Payment system in any country is the most essential part of the economic system of the country. Efficiency is required to guarantee timely completion of all transactions. As the apex financial and regulatory institution in the country it is compulsory for  RBI to ensure that the payment system in the country is as technologically advanced as possible and in view of this aim, RBI has taken several initiatives to strengthen the e-payments system in India and encourage people to adopt it technological enabled payment system.

TYPES OF E-PAYMENT

• National Electronic Clearing Service (NECS Credit)
• National Electronic Clearing Services (NECS Debit)