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10/01/2019 03:43pm

RBI constitutes high-level committee on ‘Deepening of Digital Payments’

image RBI constitutes high-level committee on ‘Deepening of Digital Payments’

New Delhi, Jan 10 (KNN) With a view to encourage digitisation of payments and enhance financial inclusion through digitisation, the Reserve Bank of India (RBI) has constituted a high-level committee on ‘Deepening of Digital Payments’.

The five member committee will be headed by UIDAI’s former Chairman Nandan Nilekani.

The committee will review the existing status of digitisation of payments in the country, identify the current gaps in the ecosystem and suggest ways to bridge them.

Besides, the committee will also assess the current levels of digital payments in financial inclusion and provide a road map for increasing customer confidence and trust while accessing financial services through digital modes.

It will also 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.

Also, committee will make suggestions related to medium-term strategy for deepening of digital payments and measures to strengthen the safety and security of digital payments.

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

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