India, March 28 -- India's digital payments landscape has undergone a transformation over the past decade following the launch of Unified Payments Interface (UPI). To build on this momentum and expand the global footprint of India's payments ecosystem, the RBI has released 'Payments Vision 2028', which builds on the foundation of its earlier such documents.

The central bank will focus on promoting inclusivity and resilience and deepening the trust in India's digital payments ecosystem over the next three years.

The RBI has proposed several new initiatives, including increasing focus on cross-border payment solutions, exploring electronic cheques, strengthening digital payments security framework, among others. 

The vision document...