With a view to encourage digitisation of payments and enhance financial inclusion through digitisation, the Reserve Bank of India has decided to constitute a High-Level Committee on Deepening of Digital Payments. The composition of the Committee is as under:
Shri Nandan Nilekani Former Chairman, Unique Identification Authority of India
Shri H.R. Khan Former Deputy Governor, Reserve Bank of India
Shri Kishore Sansi Former Managing Director & Chief Executive Officer, Vijaya Bank
Smt. Aruna Sharma Former Secretary, Ministry of Information Technology and Steel
Shri 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.