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Nandan Nilekani Committee on Digital Payments

Posted on : 25 Dec 2019

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  • The Reserve Bank of India had constituted a High-Level Committee on Deepening of Digital Payments under the Chairmanship of Shri Nandan Nilekani, former Chairman, UIDAI, in January 2019.
  • The Committee held its deliberations including consultations with various stakeholders and submitted its report to the Governor, Reserve Bank of India.
  • Key recommendations are:
    • No convenience fee on payments made to government agencies by customers
    • Round-the-clock RTGS and NEFT facility
    • Duty-free import of point-of-sales machines
    • Payment systems should use machine-driven, online dispute resolution systems to handle complaints
    • RBI and the government put in place an appropriate mechanism to monitor the digital payment systems and make aggregated information based on blocks, and PIN code, available to all players on a monthly basis, so that they can make the necessary adjustments
    • Customers must be allowed to initiate and accept a reasonable number of digital transactions with no charges
    • Computer Emergency Response Team for finance (FIN- CERT) must be operationalized to monitor the security of digital payment systems
    • Bring in RRBs into the digital payments ecosystem
    • All payments from the Government to citizens must be done digitally, including salaries, direct benefits transfer (DBT), and payments for goods and services
    • A target to achieve a ten-fold volume growth in digital payments over the next three years

Article Related Questions

Nandan Nilekani Panel on Deepening Digital Payments submitted its report to the RBI. In this context, consider the following statements
1.No convenience fee on payments made to government agencies by customers
2.No imports of point-of-sale machines to encourage domestic manufacturing
3.Bring in RRBs into digital payments ecosystem
4.All payments from Government to citizens to be done digitally
Which of the above is/are the recommendations of the committee?

1.1, 2 and 3 only

2.1, 3 and 4 only

3.1, 2 and 4 only

4.2, 3 and 4 only

Right Ans : 1, 3 and 4 only

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