The Reserve Bank of India (RBI) on Tuesday, 8 January, appointed Infosys co-founder Nandan Nilekani as the chairman of a newly formed committee on digital payments.
According to a RBI release the ‘High-Level Committee on Deepening of Digital Payments’ will work to “encourage digitisation of payments and enhance financial inclusion through digitisation”.
Nilekani, who was formerly the chairman of the Unique Identification Authority of India (UIDAI), will head the five-member committee.
The other members of the committee are: former RBI deputy governor HR Khan, former Vijaya Bank CEO Kishore Sansi and former IT secretary Aruna Sharma. The central bank also appointed Sanjay Jain, chief innovation officer, Center for Innovation, Incubation & Entrepreneurship (CIIE), IIM Ahmedabad
The committee will review the existing status of digitisation of payments in the country and assess the current levels of digital payments in financial inclusion, the release said.
It will also undertake analyses to identify best practices that can be adopted to accelerate digitisation of the economy and financial inclusion through greater use of digital payments.
The committee brief also includes suggesting measures to strengthen the safety and security of digital payments.
The five-member committee is supposed to submit its report within a period of 90 days from the date of its first meeting, the release stated.
(At The Quint, we question everything. Play an active role in shaping our journalism by becoming a member today.)