TABLE OF CONTENTS DECLARATION ; CERTIFICATE ; ACKNOWLEDGEMENT ; G LOSSARY O F ACRONYMS AND ABBREVIATIONS ; CHAPTER 1 : INTRODUCTION; 1.1. UNDERSTANDING THE TEAM ELECTRONIC FUND T RANSFER; 1.2 . WORKING OF ELECTRONIC FUND TRANSFER ; 1.3 . STATEMENT OF THE PROBLEMS ; 1.4. RESEARCH OBJECTIVES ; 1.5. SCOPE AND LIMITATIONS ; 1.6 . REVIEW OF LITERATURE ; 1.7. HYPOTHESIS ; 1.8 . RESEARCH QUESTIONS; 1.9. RESEARCH METHODOLOGY ; 1.10 . MODE OF CITATION ; 1.11. CHAPTERIZATION ; CHAPTER 2 : DEVELOPMENT OF ELECTRONIC FUND TRANSFER ; 2 .1. Payment SYSTEM IN INDIA ; 2 .2 . M ODERN PAYMENT SYSTEM IN INDIA ; 2 .3 . ROLE OF THE RBI AND GOVERNMENT IN ENCOURAGING E-PAYMENTS ; 2.4. REGULATION OF EFT IN FOREIGN C OUNTRIES ; 2.4.1. PAYMENT SYSTEM IN UNITED KINGDOM ; 2.4.2 . PAYMENT SYSTEM IN UNITED STATES ; 2 .5 . GROWTH IN ELECTRONIC PAYMENT SYSTEMS IN INDIA ; 2 .6 . CONCLUSION ; CHAPTER 3 : DIFFERENT FORMS OF ELECTRONIC FUND TRANSFER IN INDIA; 3 .1. VARIOUS FORM OF E-PAYMENTS IN INDIA ; 3 .1.1. SYSTEMICALLY IMPORTANT FINANCIAL MARKET INFRASTRUCTURE (SIFM IS)’; 3 .1.2 . RETAIL PAYMENT ; 3 .2 . NEW MODES OF DIGITAL PAYMENTS ; 3 .3 . STATISTICS ; 3 .4. CONCLUSION ; CHAPTER 4 : REGULATORY REGIME OF ELECTRONIC FUND TRANSFER IN INDIA ; 4 .1. STATEMENT OF OBJECT AND REASONS ; 4 .2 . OVERVIEW AND ANALYSIS OF THE PAYMENT AND SETTLEMENT SYSTEM ACT, 2007; 4 .3 . INFORMATION TECHNOLOGY ACT, 2000 ; 4.4. PAYMENT AND SETTLEMENT SYSTEM BILL, 20 18 ; 4.4.1. CONFLICT BETWEEN THE GOVERNMENT AND RBI ; 4.4.2 . PAYMENT COUNCIL OF INDIA ; 4.4.3 . RBI'S RATIONALE ; 4 .5 . PAYMENT AND SETTLEMENT SYSTEM IN INDIA: VISION-20 18 ; 4 .6 . CONCLUSION ; CHAPTER 5 : GENERAL ISSUES FACED By CONSUMERS WHILE USING EFT ; 5 .1. STATISTICS ; 5 .2 . CONCLUSION ; Chapter 6 : Recommendations and Conclusion ; 6 .1. RECOMMENDATIONS ; 6 .2 . CONCLUSION ; BIBLIOGRAPHY.