Vishwas Patel re-elected as chairman of Payments Council of India
Highlights:
- Vishwas Patel has been re-elected as the Chairman of Payments Council of India (PCI) for the second time in 2022, previously he was elected as a Chairman of PCI in the year 2018.
- In 2013, he served as Co-Chairman of PCI.
- PCI is a payment ecosystem industry body and is a part of the Internet and Mobile Association of India (IAMAI).
- PCI aims to promote a cashless transaction society and vision to grow digital payment in India.
- The Payments Council of India works to promote the growth of the Indian payment industry and promote a cashless economy in the country.
- It works with other important financial and banking Institutions and Organisations to turn India into a ‘cashless society.
- This industry body for digital operators in the country is said to be in its final stages of submitting its independent application to become a self-regulatory organisation (SRO) for digital payments, under the mandate of the Reserve Bank of India (RBI).
- PCI functions in line with the Digital India Initiative and closely works with the financial regulators of the country.
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