Interim report on digital payment in 2-3 days: Chandrababu Naidu

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Mumbai/new Delhi | Published: December 9, 2016 6:11:04 AM

The chief ministers’ committee on digital payment will submit its interim report to the Centre within two-three days. The committee is exploring the possibility of the use of technology to simplify digital payment procedures, said Andhra Pradesh...

Apart from Sharma, SBI chairman Arundhati Bhattacharya, ICICI Bank MD & CEO Chanda Kochhar and Bank of Baroda (BoB) MD & CEO PS Jayakumar were among others who were present.Apart from Sharma, SBI chairman Arundhati Bhattacharya, ICICI Bank MD & CEO Chanda Kochhar and Bank of Baroda (BoB) MD & CEO PS Jayakumar were among others who were present.

The chief ministers’ committee on digital payment will submit its interim report to the Centre within two-three days. The committee is exploring the possibility of the use of technology to simplify digital payment procedures, said Andhra Pradesh chief minister Chandrababu Naidu, the convener of the panel.

He said the best practices followed across the world would be incorporated in the report.

Bank chiefs and members of the chief ministers’ committee on digital payment systems on Thursday met RBI governor Urjit Patel and deputy governors to discuss the strategy to push digital banking.

Axis Bank MD and CEO Shikha Sharma said they discussed the strategy to push the digital banking in the country. “Using the current infrastructure such as Aadhaar-enabled payments, unified payment interface (UPI), point of sale (PoS), and unstructured supplementary service data (USSD) how to accelerate digital transactions,” she said.
On the road map for implementation, Sharma said banks are trying to do it as fast as they can. Apart from Sharma, SBI chairman Arundhati Bhattacharya, ICICI Bank MD & CEO Chanda Kochhar and Bank of Baroda (BoB) MD & CEO PS Jayakumar were among others who were present.

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Chief ministers of Bihar, Tripura, Madhya Pradesh, Puducherry, Sikkim and Maharashtra are the members.
Constituted by the NITI Aayog, the committee will examine and promote digital payment systems across the country.

“The move is in line with the government’s thinking to promote transparency, financial inclusion and a healthy financial ecosystem nationwide and to give a boost to the adoption of digital payments systems by people at the grassroots levels and small businesses,” the Niti Aayog had said in a statement last month.

The committee will identify and outline measures for rapid expansion and adoption of the system of digital payments.

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