With a view to encourage digitisation of payments and enhance financial inclusion through digitisation, the Reserve Bank of India has decided to constitute a High-Level Committee on Deepening of Digital Payments. The composition of the Committee is as under:

The Terms of Reference of the Committee are as under:

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;

7. Any other related item of importance.

The Committee shall submit its report within a period of 90 days from the date of its first meeting.

Jose J. Kattoor
Chief General Manager

Press Release: 2018-2019/1590