RBI constitutes Nandan Nilekani-led digital payments panel

  • The Reserve Bank of India (RBI) on January 8, 2019 formed  a high-level committee headed by Infosys co-founder and former chairman of the Unique Identification Authority of India (UIDAI) Nandan Nilekani to set up a robust digital payments ecosystem in the country.
  • The four member committee  has been asked to review the existing status of digitization of payments, identify gaps in the ecosystem and suggest ways to plug them.
  • The committee has to suggest a medium-term strategy for deepening digital payments, and measures to strengthen safety and security.
  • Members on the committee are; former RBI deputy governor HR Khan, former Vijaya Bank CEO Kishore Sansi and former 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 (IIM) Ahmedabad, as member of the panel.
  • The committee shall submit its report within a period of 90 days from the date of its first meeting

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