RBI encourage digitisation of payments
Guidelines on tokenisation For Card Transactions 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 under the chairmanship of Shri Nandan Nilekani, Former Chairman- Unique Identification Authority of India. The Terms of Reference of the Committee are, a: 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; b: To assess the current levels of digital payments in financial inclusion. c: 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; d: Suggest measures to strengthen the safety and security of digital payments;