RBI appoints Nandan Nilekani as chairman of committee on digital payments in India

Mumbai: The Reserve Bank of India (RBI) said on Tuesday that it has decided to constitute a high-level committee on deepening digital payments led by former UIDAI chairman Nandan Nilekani.

Nandan Nilekani has been appointed as the chairman of this high-level committee on digital payments along with four other members.

H.R. Khan, RBI’s former Deputy Governor, Kishore Sansi, Vijaya Bank’s former MD & CEO, Aruna Sharma, former Secretary – Ministry of Information Technology and Steel, and Sanjay Jain, Chief Innovation Officer – Center for Innovation, Incubation & Entrepreneurship (CIIE), IIM Ahmedabad are the appointed four members of the committee.

The committee will assess various aspects linked with digital payments and financial inclusion which includes review of the existing status of digitisation of payments in the country, identify the current gaps in the ecosystem and suggest ways to bridge them.

It will assess the current levels of digital payments in financial inclusion and will analyse and identify best that can be adopted in India to push digitisation of the economy and financial inclusion through wider use of digital payments.

Besides, the committee will suggest measures on making the digital payments more safe and secure as well as provide a road map for increasing customer confidence and trust while accessing financial services through digital modes.

More so, the committee will suggest a medium-term strategy for deepening of digital payments and other related item of importance.

The committee is expected to submit its first report within a 90 days duration from the date of its first meeting, RBI said in a statement.

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