The Reserve Bank of India is likely to link the number of cards issued by banks to the number of POS machines in the payment ecosystem. RBI’s deputy governor H.R. Khan said banks have issued a huge number of cards but this does not correspond to the level of payment system infrastructure in place. He said one suggestion is to allow opening White Label PoS machines like White Label ATMs. Any further issuance of cards will have to be linked to the setting up of the infrastructure, he said. He, however, said it is not a final view but just a thought but maintained that the infrastructure is required particularly in rural and semi-urban areas where more Kisan Credit cards are being issued. He said India has just 1.1 million PoS terminals and that only few banks are putting up these machines.
