RBI appoints a 5-member committee headed by Nandan Nilekani to suggest ways to improve digital payments

The Reserve Bank of India (RBI) has appointed a 5-member committee headed by Nandan Nilekani to suggest ways to improve digital payments. The committee will review the existing status of digitisation of payments in the country, identify the current gaps in the ecosystem and suggest ways to bridge them and assess the current levels of digital payments in financial inclusion. It will also suggest measures to strengthen the safety and security of digital payments and provide a road map for increasing customer confidence and trust while accessing financial services through digital modes. Further, it will suggest a medium-term strategy for deepening of digital payments and other related items. The committee will submit its report in 90 days from its first meeting.