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The Working Group after examining various issues involved in setting up the Umbrella Organisation, such as viability, pricing, capital, ownership, management, staffing, settlement, activities/business, etc. had made recommendations to set up the Umbrealla Organisation with the following objectives:
- To develop a robust retail payment system by consolidation of the existing systems.
- To evolve standards and procedures as are necessary to promote efficiency, safety, soundness, security and cost effectiveness of the payment systems and settlement processes.
- To usher in advanced technological platforms and to ensure constant upgradation to meet the best international standards.
- To focus on customer-centric initiatives with emphasis on product innovations and on high quality service levels.
- To identify and control all risks (settlement, credit, liquidity, operational and systemic) and preserve the integrity of the system
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