RBI Appoints Nandan Nilekani as Chairman of Digital Payments Panel (Download PDF)

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The Reserve Bank of India (RBI) has appointed Nandan Nilekani, co-founder of Infosys, as the chairman of a five-member high-level committee that will work towards deepening digital payments in India.

Image Of Payments India

Image Of Payments India

Image Of Payments India

The five-member panel on deepening of digital payments has been constituted with a view to encourage digitisation of payments and enhance financial inclusion through digitisation, the RBI said in a statement.

What Will Committee Do?

  • The committee shall submit its report within a period of 90 days from the date of its first meeting

  • The panel has been tasked with reviewing the existing status of digitisation of payments in the country, identifying the current gaps in the ecosystem and suggesting ways to bridge them and assessing the current levels of digital payments in financial inclusion.

  • It will also “suggest measures to strengthen the safety and security of digital payments & a road map for increasing customer confidence and trust while accessing financial services through digital modes”.

  • The committee, which will submit a report card to the RBI every three months, will assess the current levels of digital payments in financial inclusion

  • It has also been asked to undertake cross country analyses with a view to identify best practices that can be adopted in our country to accelerate digitisation of the economy and financial inclusion through greater use of digital payments.

  • To suggest a medium-term strategy for deepening of digital payments.

Members of the Committee

  • Other members of the panel are former RBI deputy governor H R Khan, former MD and CEO of Vijaya Bank Kishore Sansi and former secretary in ministries of IT and steel Aruna Sharma.

  • The fifth member is Sanjay Jain, chief innovation officer, Centre for Innovation, Incubation & Entrepreneurship (CIIE), IIM Ahmedabad.

- Published/Last Modified on: February 14, 2019

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