International Research Journal of Commerce , Arts and Science

 ( Online- ISSN 2319 - 9202 )     New DOI : 10.32804/CASIRJ

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PAYMENTS IN INDIA GOING ‘E-WAY’- AN ANALYTICAL STUDY

    1 Author(s):  SHIV KUMAR RABIDAS

Vol -  5, Issue- 6 ,         Page(s) : 180 - 190  (2014 ) DOI : https://doi.org/10.32804/CASIRJ

Abstract

The electronic payment system evaluation can be traced back to the 1950s with the introduction of ERMA (Electronic record method of Accounting) and MICR based on cheque- clearing system in the USA. Over the last two decades, in India, post implementation of MICR based clearing in1986, other payment system like card based payments system, ECS,EFT, RTGS and NEFT have come up and they offer a different set of capabilities for the wholesale and retail customers. As a result of the technological development, the proportions of electronic transactions, both in terms of volume and value, have increased sharply. It is indeed heartening to note that electronic payment in India has seen a huge growth and this augurs well for the corporate sector and the economy.

1      BanknetIndia
2. Cover story (2011) E-payment as currency of the future”. The Indian Banker, Monthly Journal 
3. RBI report on payment system in India vision 2012-2015
4. Sumanjeet  (2012) “Emergence of payment systems in the Age of Electronic Commerce”: The state of Act “Global journal of international Business Research

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