Mumbai, March 27 -- The Reserve Bank of India on Friday outlined its roadmap for the payments sector over the next three years, till December 2028. It highlighted cross-border payments, increased interoperability between payments infrastructure and the introduction of a domestic legal entity identifier (DLEI) for non-individual entities.

The roadmap underscores the dual imperative of "consolidating and strengthening the existing systems/infrastructure, while pioneering the future of payments," the central bank said in the 'Payments Vision 2028' report.

The report proposes initiatives to improve operational excellence, promote strategic innovation and ensure that the payment infrastructure remains resilient, inclusive, user-friendly, and...