Nandan Nilekani appointed chairman of high-level committee to assess digitisation of payments

New Delhi: The Reserve Bank of India (RBI) on Tuesday appointed Nandan Nilekani as chairman of high-level committee to assess the digitisation of payments in India with a view to encourage digitisation of payments and enhance financial inclusion through digitisation.

The five-membered team will comprise other members – HR Khan, Former RBI Deputy Governor; Kishore Sansi, Former MD and CEO Vijaya Bank,  Aruna Sharma, Former Secretary, Ministry of Information Technology and Steel; and  Sanjay Jain, Chief Innovation Officer, Center for Innovation, Incubation & Entrepreneurship (CIIE), IIM Ahmedabad.

Nilekani along with the team will review the existing status of digitisation of payments in the country, identify the current gaps in the ecosystem and suggest ways to bridge them, RBI said.

The Committee shall submit its report within a period of 90 days from the date of its first meeting.

Among many other tasks entrusted upon the committee, it will assess the current levels of digital payments in financial inclusion and suggest measures to strengthen the safety and security of digital payments.

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

The committee will provide a road map for increasing customer confidence and trust while accessing financial services through digital modes and suggest a medium-term strategy for deepening of digital payments.