The Reserve Bank of India (RBI) said it has decided to set up a high-level committee on deepening of digital payments with a view to encourage digitisation of payments and enhance financial inclusion through digitisation. The committee will be chaired by former Unique Identification Authority of India (UIDAI) chairman Nandan Nilekani.
The other members of the committee are former RBI deputy governor HR Khan, Kishore Sansi, former head of Vijaya Bank, Aruna Sharma, former secretary, ministry of information technology and steel, and Sanjay Jain, chief innovation officer, Center for Innovation, Incubation & Entrepreneurship (CIIE), IIM Ahmedabad.
The committee will submit its report within a period of 90 days from the date of its first meeting. The terms of reference for the committee include reviewing the existing status of digitisation of payments in the country, identifying current gaps in the ecosystem and suggesting ways to bridge them and assessing the current levels of digital payments in financial inclusion.