The Bank of Russia’s recent discussion on regulating the cash-in-transit market has garnered support from the professional community. Experts largely agree on the need to establish a level playing field for all participants in this sector.
During the discussion, participants acknowledged several issues outlined in the paper. These include limited access to cash-in-transit services in certain regions, increased unfair competition, and labor shortages within the industry.
The Bank of Russia plans to facilitate conditions that allow more companies to operate in this market. The regulatory framework is expected to extend beyond banks to include other providers of cash-in-transit services. There are also plans to maintain a register of such providers, with liabilities imposed on those who offer these services without being registered.
These measures aim to curb unfair competition and enhance service accessibility, particularly in remote areas.
