RBI set up 5-member panel under Nandan Nilekani to boost digital payments

RBI set up 5-member panel under Nandan Nilekani to boost digital payment

RBI set up 5-member panel under Nandan Nilekani to boost digital payments

The Reserve Bank of India (RBI) constituted a 5-member high-level committee under Aadhaar architect Nandan Nilekani to suggest measures to strengthen the safety and security of digital payments in the country.

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The five-member committee would be headed by Nandan Nilekani, chairman of Infosys Technologies and former chairman, Unique Identification Authority of India.

• The other panel members are H R Khan, former deputy governor at RBI.
• Kishore Sansi, former managing director at Vijaya Bank.

• Aruna Sharma, former secretary, ministry of information technology.
• Sanjay Jain, chief innovation officer, Center for Innovation, Incubation & Entrepreneurship, IIM Ahmedabad.

The panel is to give its report within 90 days from the date of its first meeting.

The panel will also assess the current levels of digital payments in financial inclusion and suggest a medium-term strategy for deepening of digital payment.

The committee will also undertake analysis across countries, to identify those that could be adopted here.