Nandan Nilekani to lead Committee on Deepening of Digital Payments

• Committee on Deepening of Digital Payments : RBI (Reserve Bank of India)

With a view to encourage digitisation of payments and enhance financial inclusion through digitisation, the Reserve Bank of India (RBI) has decided to constitute a High-Level Committee on Deepening of Digital Payments.

The composition of the Committee is as under :

1 Nandan Nilekani
Former Chairman, Unique Identification Authority of India
2 H.R. Khan
Former Deputy Governor, Reserve Bank of India
3 Kishore Sansi
Former Managing Director & Chief Executive Officer, Vijaya Bank
4 Aruna Sharma
Former Secretary, Ministry of Information Technology and Steel
5 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 digitisation 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 digitisation 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.

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