Lessons being learnt from NSE tech glitch, says FM Sitharaman

Finance Minister Nirmala Sitharaman on Monday asked civil accounts officers to have a clear roadmap for seamless digital payments, saying there are lessons to be learnt from the recent “technology-driven glitch” leading to a trading halt at the National Stock Exchange (NSE).

Addressing the 45th Civil Accounts Day, she said the Controller General of Accounts (CGA) will have to adapt and keep pace with changing technology to keep government account transparent.

“Seamlessness of payments is more important,… I will bring it here as an example to say even where complete foolproof systems are laid, you find in NSE a couple of days ago when there was a glitch, a kind of technology-driven glitch, which nobody could have anticipated, but that glitch has caused us immensely and lessons are being learnt,” she said.

“Maybe that was an issue of interoperability between the two exchanges, but that is the kind of thing where seamless digital payment is the goal that we have to aspire for,” she said.