Nandan Nilekani to head panel on digital payments

The Reserve Bank of India (RBI) formed a high level panel to look into digitalisation of payments in the country. The panel will be chaired by Nandan Nilekani. The four member committee will look into the current state of digitalised payments, and scope for more.

Nandan Nilekani has served as chairman of the Unique Identification Authority of India (UIDAI) which manages Aadhaar.

The RBI note says that 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”.

The committee would suggest steps to strengthen the safety and security of digital payments. It also has to provide a roadmap for increasing customer confidence while accessing financial services through digital modes.

The panel will also suggest medium-term strategy to deepen digital payments and submit its report within 90 days.