Former UIDAI chief Nandan Nilekani to head RBI panel on digital payments
The Reserve Bank of India (RBI) has appointed Infosys co-founder Nandan Nilekani as the Chairman of a high-level committee on deepening of digital payments in India.
On Tuesday The Reserve Bank of India (RBI) announced the formation of a high-level panel to assess the digitization of payments in the country. The central bank appointed Nandan Nilekani as chairman of the Committee on Deepening of Digital Payments, the RBI said in a statement.
The committee, which will have four other members, will review the existing status of digitization of payments in the country and assess the current levels of digital payments in financial inclusion, according to the RBI.
Infosys co-founder Mr. Nilekani has served as chairman of the Unique Identification Authority of India (UIDAI).
Members on the committee include 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), IIM Ahmedabad, a member of the panel.
The committee has been formed with an aim “to encourage digitization of payments and enhance financial inclusion through digitization”, the statement further said.
The panel will also undertake cross-country analyses to identify best practices that can be adapted to boost digitization 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.