KARACHI: To reduce cash transactions through digitalisation, the State Bank of Pakistan (SBP) issued a criterion on Saturday to enhance the technical capabilities of participant banks involved in the instant payment system — Raast.

While there has been a significant increase in digital payments in Pakistan over the past five years, cash transactions still constitute a considerable portion of the overall payment system.

Trying to take the payment system on a fast track and minimise cash transactions, the SBP has issued Raast........

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