RBI appoints Nandan Nilekani as chairman of committee to assess digistisation of payments in India

Jan 8 (AZINS) The RBI has appionted Nandan Nilekani as chairman of committee to assess the digitisation of payments in India.

The committee will consist of Nandan Nilekani as Chairman and HR Khan, Kishore Sansi, Aruna Sharma and Sanjay Jain.

It will look to identify gaps in the ecosystem, assess current levels of financial inclusion, undertake cross-country analyses and suggest measures to strengthen safety and security of digital payments.

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.