Former UIDAI chairman Nandan Nilekani appointed to head RBI panel on digital payments

Reserve Bank of India (RBI) today appointed Nandan Nilekani, former chairman of Unique Identification Authority of India (UIDAI), as the head of Committee on Deepening of Digital Payments to encourage digitisation of payments and enhance financial inclusion through digitisation, according to an RBI statement. The other four members of the committee are: HR Khan, former Deputy Governor, RBI; Kishore Sansi, former Managing Director & Chief Executive Officer, Vijaya Bank; Aruna Sharma, former Secretary, Ministry of Information Technology and Steel; Sanjay Jain, Chief Innovation Officer, Center for Innovation, Incubation & Entrepreneurship (CIIE), IIM Ahmedabad.  
  
The terms of reference of the committee are:

1. To review the existing status of digitisation of payments in the country, identify the current gaps in the ecosystem and suggest ways to bridge them.

2. To assess the current levels of digital payments in financial inclusion.

3. To 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.

4. Suggest measures to strengthen the safety and security of digital payments.

5. To provide a road map for increasing customer confidence and trust while accessing financial services through digital modes.

6. To suggest a medium-term strategy for deepening of digital payments; and any other related item of importance.

Meanwhile, the committee will submit its report within a period of 90 days from the date of its first meeting.