Nandan Nilekani committee submits report on digital payments to RBI

A Reserve Bank of India (RBI) – appointed committee headed by Aadhaar architect Nandan Nilekani submitted its report on promoting digital payments to RBI Governor Shaktikanta Das on May 17. The RBI will examine the recommendations of the committee and will link the action points, wherever necessary, in its Payment Systems Vision 2021 for implementation. Earlier this week, the RBI released the ‘Payment and Settlement Systems in India: Vision 2019 – 2021’, for ensuring a safe, secure, convenient, quick and affordable e-payment system with an aim making India a ‘cash-lite’ society. In January 2019, the RBI had set up the 5-member panel on deepening digital payments with a view to encouraging digitization of payments and to enhance financial inclusion through digitization.