Nandan Nilekani to head five-member RBI panel on digital payments

The committee will submit its report in 90 days from its first meeting.

Updated - January 08, 2019 05:12 pm IST

Published - January 08, 2019 05:02 pm IST - Mumbai

Nandan Nilekani

Nandan Nilekani

The Reserve Bank of India has appointed a five-member panel headed by Nandan Nilekani to suggest ways to improve digital payments. The committee will submit its report in 90 days from its first meeting.

Former Deputy Governor of RBI H.R. Khan, former Vijaya Bank MD and CEO Kishore Sansi, former Secretary of Information and Technology Aruna Sharma and Sanjay Jain, Chief Innovation Officer, Center for Innovation, Incubation & Entrepreneurship (CIIE), IIM Ahmedabad, are the other members of the panel.

“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,” the terms of reference said.

The panel would assess the current levels of digital payments in financial inclusion, suggest measures to strengthen the safety and security of digital payments, provide a road map for increasing customer confidence to use digital transactions, and suggest a medium-term strategy for deepening of digital payments.

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