Andhra CM’s Committee to submit report on promotion of digital payment systems Chief Minister’s Committee on digital payments, headed by Andhra Pradesh Chief Minister Chandrababu Naidu, will submit its report to the Centre within one week, an official said today. “The Committee of Chief Ministers to promote digital payment systems will submit its report to the Centre within one
week,” a senior government official told PTI. The Centre had constituted a 13-member Committee last November to promote digital payment systems for greater transparency and financial inclusion as also to prepare a roadmap in this regard. Apart from Naidu, Odisha CM Naveen Patnaik, MP CM Shivraj Singh Chouhan, Sikkim CM Pawan Kumar Chamling, Puducherry CM V Narayanasamy, Maharashtra CM Devendra Fadnavis are also members of the committee along with NITI Aayog Vice-Chairman Arvind Panagariya, and Amitabh Kant CEO, NITI Aayog. UIDAI former Chairman Nandan Nilekani, Boston Consulting Group Chairman Janmejaya Sinha, net CORE Managing Director Rajesh Jain, iSPIRIT Co–founder Sharad Sharma and IIM (Ahmedabad) Professor (Finance) Jayant Varma are special invitees. The terms of reference of the committee are identifying global best practices for implementing an economy primarily based on digital payment and examine the possibility of adoption of these global standards in the Indian context. ALSO READ: ICICI Bank blocks UPI-based transactions on PhonePe; security concerns over mobile wallets to blame?
The panel was also asked to outline measures for rapid expansion and adoption of the system of digital payments like cards (Debit, Credit and pre-paid), Digital-wallets/ e-wallets, internet banking, Unified Payments Interface (UPI), banking apps, etc and shall broadly indicate the roadmap to be implemented in one year. The high-level group was also asked to identify and address bottlenecks and indicate solutions pertaining to adoption of the steps required to move towards a digital payments economy.
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