RBI forms panel to boost digital payments led by Nandan Nilekani

RBIIn a bid to boost the usage digital payments, the Reserve Bank of India (RBI) has formed a high-level committee under the leadership of Nandan Nilekani.

Aadhaar’s architect Nilekani is soon going to suggest measures to ensure safety and security of digital payments in the country.

The member panel led by Nilekani has been formed to enhance the level of digital payments and promote financial inclusion through digitisation, said the RBI.

“The committee shall submit its report within a period of 90 days from the date of its first meeting,” it added.

The panel has been mandated to review the current status of
digitisation of payments in the country, notify the ongoing gaps in the ecosystem and suggest ways to viaduct them and annalysing the current levels of digital payments in financial inclusion.

“Suggest measures to strengthen the safety and security of digital payments… (and) a road map for increasing customer confidence and trust while accessing financial services through digital modes,” he said.

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