The Reserve Bank of India (RBI) on Tuesday appointed former UIDAI (Unique Identification Authority of India) chief Nandan Nilekani as chairman of a five-member committee on digital payments.
The panel will submit its report within 90 days from the date of its first meeting.
“With a view to encourage digitisation of payments and enhance financial inclusion through digitisation, RBI has decided to constitute a high-level committee on deepening of digital payments,” the central bank said in a statement.
Members on the committee include ex- RBI deputy governor HR Khan, former Vijaya Bank CEO Kishore Sansi and ex-IT secretary Aruna Sharma.
The central bank also appointed Sanjay Jain, chief innovation officer, Center for Innovation, Incubation & Entrepreneurship (CIIE), Indian Institute of Management Ahmedabad, as member of the panel.
The panel will “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,” RBI said.
The committee is required to suggest steps to strengthen safety and security of digital payments, and provide a road map for increasing customer confidence while accessing financial services through digital modes, RBI added.