Last year, technocrat Nandan Nilekani returned to IT major Infosys, which is the tech-enabler for the GST Network
The Reserve Bank of India Tuesday formed a committee under Aadhaar architect Nandan Nilekani
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 financial inclusion 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 financial inclusion.
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 financial services 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 economy and financial inclusion 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 Infosys co-founder Nilekani, other members of the panel are former RBI
deputy governor H R Khan, former MD and CEO of Vijaya Bank Kishore Sansi and former secretary in ministries of IT and steel Aruna Sharma.
The fifth member is Sanjay Jain, chief innovation officer, Centre for Innovation, Incubation & Entrepreneurship (CIIE), IIM Ahmedabad.