You are here: Home » Economy & Policy » News
Business Standard

Govt to soon release digital payment fee policy: Niti Aayog official

Govt will release a policy on the fee being charged for different modes of digital payments

Press Trust of India  |  New Delhi 

NITI Aayog
The research report on digital payments has been prepared by a committee headed by Watal

The will soon come out with a policy on the fee being charged for different modes of payments, a official said today.

thinks that has submitted a research report on payment trends and challenges to the

According to the research report, one of the major issues impacting transactions is the fee on payments. payments through RTGS, attract different charges.

"The is currently evaluating these charges and will soon come out with suitable policy suggestions," Principal Adviser, Social Sector, said at an event here.

"In the research report, we (Niti Aayog) have also recommended that the payments should be disseminated at a disaggregated level," Watal, the former secretary, said.

At present, the on payments is available only at an aggregate level, thus making it difficult to analyse the growth and effectiveness of individual payment technologies.

"We have proposed a classification for disaggregation - according to service provider, payment instruments, payment destination, user, value, area, etc," he said.

"We are working with the towards dissemination in such a metric format," he added.

The research report on payments has been prepared by a committee headed by Watal.

Speaking on the occasion, National Payments Corporation of India Managing Director & CEO A P Hota said that it is necessary that banks issue debit cards to those customers who still do not own any card.

Hota further said seeding of should be made mandatory. "Eleven states have migrated payments to Aadhaar-based payment system," Hota said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mon, July 03 2017. 18:48 IST