• 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 :
Former Chairman, Unique Identification Authority of India
Former Deputy Governor, Reserve Bank of India
Former Managing Director & Chief Executive Officer, Vijaya Bank
Former Secretary, Ministry of Information Technology and Steel
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.