Concerned over security of data on payment platforms, now actively being promoted by the Central government after demonetisation of high-value notes of Rs. 500 and Rs. 1,000, the Parliamentary Standing Committee on Information and Technology will meet next week to review the same.
Officials from the Telecom Regulatory Authority of India (TRAI) and the Department of Information and Technology have been asked to appear before the panel, which will meet on January 5. “With currency replacement nowhere near pre-November 8 levels, digital transactions have now grown manifold. There are concerns about the safety of such transactions, especially after news (even before demonetisation) of accounts and cards being hacked electronically,” said a member of the committee. “We want to know how far such transactions are safe,” added the member.
The Centre has been pushing for digital transactions in lieu of cash not just to combat the shortage of currency in circulation after note ban but also to encourage leaving of digital fingerprints of transactions, to enable electronic tracking. This, the government hopes, will lead to a broadening of the tax net and a broader idea of transactions.
