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RBI sets up panel under Nandan Nilekani to boost digital payments

Press Trust of India  |  Mumbai 

The Reserve Bank of Tuesday constituted a high-level committee under architect to suggest measures to strengthen the safety and security of digital payments in the country.

The five-member panel on deepening of digital payments has been constituted with a view to encourage digitisation of payments and enhance through digitisation, the RBI said in a statement.

"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 tasked with reviewing the existing status of digitisation of payments in the country, identifying the current gaps in the ecosystem and suggesting ways to bridge them and assessing the current levels of digital payments in

It will also "suggest measures to strengthen the safety and security of digital payments... (and) a road map for increasing customer confidence and trust while accessing through digital modes".

It has also been asked to undertake cross country analyses with a view to identify best practices that can be adopted in our country to accelerate digitisation of the and through greater use of digital payments.

Another term of reference of the panel, the RBI said is to suggest a medium-term strategy for deepening of digital payments.

Besides Nilekani, other members of the panel are former RBI H R Khan, former MD and of Kishore Sansi and former in ministries of IT and

The fifth member is Sanjay Jain, chief innovation officer, for Innovation, (CIIE), IIM Ahmedabad.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 08 2019. 16:35 IST