Former UIDAI chief Nandan Nilekani to head RBI panel on digital payments

Mumbai: The Reserve Bank of India (RBI) on Tuesday appointed Infosys co-founder and former UIDAI chief Nandan Nilekani as the chairman of High-Level Committee on Deepening of Digital Payments in the country.

In a statement, the apex bank said the five-member panel will review the existing status of digitisation of payments in the country and assess the current levels of digital payments in financial inclusion.

The committee has been formed with an aim “to encourage digitisation of payments and enhance financial inclusion through digitisation”, the statement further said.

The panel will also undertake cross-country analyses to identify best practices that can be adopted to boost digitisation of the economy and will also “suggest measures to strengthen the safety and security of digital payments.”

The panel will also 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;

H R Khan, former deputy governor of the RBI and Kishore Sansi, former managing director and chief executive officer of Vijaya Bank are also members of the committee.

Aruna Sharma, former secretary under the Ministry of Information Technology and Steel and Sanjay Jain, Chief Innovation Officer, Center for Innovation, Incubation & Entrepreneurship (CIIE), IIM Ahmedabad are the other members of the committee.

The committee will submit its report within 90 days from the date of its first meeting.