RBI proposal will lead to more innovation in the digital payments space

21 Feb 2020 News: RBI proposal will lead to more innovation in the digital payments space https://lnkd.in/f9eHsbb --------------------- Could that be ? -------------- All bank accounts of a person ( in different banks ) become inter- operable / fungible , through seamless interlinking , using Aadhar / UPI Interface in a Mobile Wallet No need to " select " a particular bank name * All transactions using a Mobile Wallet, automatically entered in BLOCK-CHAIN database commonly shared by ALL banks * Wallet based algorithm will move funds across different bank accounts for best yield , constantly searching for best interest rates offered by banks on Fixed Deposits This will happen automatically , much like algorithm-based share trading , taking advantage of price differences in two bourses located 300 km apart ( in one thousandths of a second ! ) No rocket science here considering availability of " BEST PRICE " apps for thousands of goods and services Nothing will stop algo-trading through a Mobile Wallet --------------------- source ; https://lnkd.in/fUsaQXS