Committee shall submit its report within a period of 90 days from the date of its first meeting
With a view to encourage digitization of payments and enhance financial inclusion through digitization, the Reserve Bank of India has decided to constitute a High-Level Committee on Deepening of Digital Payments. The Committee is to be headed by Nandan Nilekani, Former Chairman, Unique Identification Authority of IndiaThe members of the committee are H.R. Khan - former Deputy Governor of RBI, Kishore Sansi - former MD&CEO of Vijaya Bank, Aruna Sharma - former Secretary, Ministry of Information Technology and Steel, Sanjay Jain - Chief Innovation Officer, Center for Innovation, Incubation & Entrepreneurship (CIIE), IIM Ahmedabad.
The Terms of Reference of the Committee are as under:
* To review the existing status of digitization of payments in the country, identify the current gaps in the ecosystem and suggest ways to bridge them;
* To assess the current levels of digital payments in financial inclusion;
* To undertake cross country analyses with a view to identify best practices that can be adopted in our country to accelerate digitization of the economy and financial inclusion through greater use of digital payments;
* Suggest measures to strengthen the safety and security of digital payments;
* To provide a road map for increasing customer confidence and trust while accessing financial services through digital modes;
* To suggest a medium-term strategy for deepening of digital payments;
* Any other related item of importance.
The Committee shall submit its report within a period of 90 days from the date of its first meeting.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)