Electronic Fund Transfer other than BHIM/UPI and RTGS take an inordinate length of time to complete. The funds are debited from the payer's account, but takes days to be credited to the payee's account. This creates a huge amount of "Float money" or interest free money for the banks. This situation has to change if the economy is to grow at the ambitious pace as projected by the government.

Faster payment realisation enables the parties in multiple ways. (1) It provides liquidity to small and medium businesses. (2) It frees up valuable clerical time used to constantly verify if the payment is credited or not. (3) Saves interest on borrowing.