Former UIDAI chairman Nandan Nilekani will head a new RBI committee to push digital payments and enhance financial inclusion in India. While Nilekani is the chairman, the committee consists of 4 members:
- H.R. Khan, former deputy governor, Reserve Bank of India
- Kishore Sansi, former managing director and CEO, Vijaya Bank
- Aruna Sharma, former secretary, Ministry of Information Technology and Steel
- Sanjay Jain, Chief Innovation Officer, Center for Innovation, Incubation & Entrepreneurship (CIIE), IIM-Ahmedabad
What the committee will do
The mandate of the committee is to
– assess the existing status of digital payments,
– identify gaps and suggest ways to bridge them,
– assess the existing levels of digital payments in financial inclusion,
– suggest measures to enhance the security of digital payments,
– analyze best practices for digitization of economy through payments
– provide a medium-term strategy for deepening digital payments, and
– to provide a roadmap for increasing customer confidence in digital payments.
The committee will submit its report within 90 days from the its first meeting.
Read our digital payments coverage here.