Panel will look at measures to make online transactions between govt and citizens cheaper than cash transactions
Looking at transitioning India to a cashless economy in the wake of its demonetization move, the Central Government has set up a high-level committee to identify possible modes of digital payment across different sectors. The committee headed by NITI Aayog CEO Amitabh Kant will look at measures to make online transactions between government and citizens cheaper than cash transactions. It will also assess costs involved in various digital payments options.
“The committee will identify and operationalise in the earliest possible time-frame user-friendly digital payment options in all sectors of the economy. This is an integral part of the government’s strategy to transform India into a cashless economy,” a statement from NITI Aayog stated.
The statement added that the committee will also identify and access infrastructures and utility of digital payment options.
The committee will regularly interact with other ministries, regulators, state governments, district administration, local bodies, trade, and industry associations to promote a faster transition to digital payment systems. It will organise training and capacity building of various states and union territories (UTs), ministries/departments of the government, representatives of states/UTs, trade and industry bodies as well as other stakeholders and implement an action plan on advocacy, awareness and handholding efforts among public, micro enterprises and other stakeholders.
The committee includes secretary, department of financial services, secretary, Ministry of Electronics and Information Technology; DIPP secretary, DIPAM; MD & CEO of the National Payments Corporation of India, secretary, Ministry of Rural Development, and the chairman of National Highways Authority of India.
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