Facilitating Interoperability in Digital Finance Services in India

Overview

Interoperability is usually understood as ability of different networks/systems/tools to communicate with each other, exchange and use/process data. The term has gained prominence with advent of digital finance in emerging economies. India has witnessing tectonic shifts with respect to regulation and market practices on interoperability. This Discussion Paper reviews existing literature on interoperability, international experiences, regulations applicable in India and presents a possible way forward for different stakeholders, including industry, civil society, experts and regulators to work together for facilitate interoperability while balancing competing interests in the market.