Payment Systems in India-Vision 2009-12
Background:
Reserve Bank of India till date has published two Vision Documents on Payments Systems in India .
The first was published in 2001, and the second one in May 2005.
The Third Draft Vision on Payment Systems in India was released on 12/11/2009, by Reserve Bank of India .
This means a Vision Document every 3 years can be expected.
What is a Vision Document?
The term Vision Document is borrowed from the IT Industry, and now it is a widely used tool across all spectrums of life.
A good Vision Document communicates the fundamental "why and what" for the project and is a gauge against which all future decisions should be validated.
A vision document generally contains:
§ Introduction
§ Business Needs/Requirements
§ Product/Solution Overview
§ Major Features (Optional)
§ Scope & Limitations
§ Other Needs
In this aspect, Reserve Bank of India , not only released the Vision Document but also released the Accomplishments Vs statements document.
The Accomplishments Vs statements Document for Vision 2005-08 of Payments Systems in India , can be accessed @
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