Vision Document on Payment and Settlement Systems and Roadmap for Implementation

Abbreviations used in the Document

ATM BCs BIS BPSS CCIL CCPs CenECS CFMS CPCs CPSS CTS ECS FATF IFSC IRDA MICR MMBCS NECS NEFT NFS NPCI RECS RTGS SEBI SIPS SPC SWIPS SWS

Automated Teller Machines Business Correspondents Bank for International Settlements Board for Regulation and Supervision of Payment and Settlement Systems Clearing Corporation of India Limited Cheque Collection Policies Centralised ECS Centralised Funds Management System Cheque Processing Centres Committee on Payment and Settlement Systems Cheque Truncation System Electronic Clearing Service Financial Action Task Force Indian Financial System Code Insurance Regulatory and Development Authority Magnetic Ink Character Recognition Magnetic Media Based Clearing System National Electronic Clearing Service National Electronic Funds Transfer National Financial Switch National Payments Corporation of India Regional ECS Real Time Gross Settlement Securities and Exchange Board of India Systemically Important Payment Systems SAARC Payments Council System-Wide Important Payment Systems Secured Web Server