Operational Efficiency of Payment and Settlement Systems in Selected Indian Banks: and Challenges

Abstract

This study examines the operational efficiency of payment and settlement systems in selected Indian banks under the
regulatory framework of the Reserve Bank of India. It evaluates key dimensions such as transaction speed, reliability,
cost efficiency, accessibility, and risk management across systems like RTGS, NEFT, and UPI. Using both primary and
secondary data, the research identifies improvements driven by digitalization and regulatory support. However,
challenges such as cybersecurity threats, technical failures, infrastructure gaps, and customer awareness issues persist.
The study suggests technological upgrades and policy measures to enhance efficiency and ensure a secure, resilient, and
inclusive payment ecosystem.