The Reserve Bank of India (RBI) is looking to simplify cross-border payment approvals and reduce regulatory friction for businesses and exporters as part of its Payments Vision 2028, according to an EY report, which identified cross-border payments as a key strategic priority for the next phase of India's digital payments growth.
In its report, Payments Vision 2028: Preparing to Shape India's Payment Frontier, EY said the RBI is moving beyond the earlier focus on expanding digital payment adoption and is now seeking to improve the efficiency of cross-border transactions and strengthen India's position in global payments.
