BANKING - 2019 June

June 3

Nandan Nilekani committee that was appointed by the Reserve bank of India has submitted its suggestions on measures to encourage digital payments in India to RBI Governor Shaktikanta Das. Nilekani Panel suggested some measures which include elimination of all charges, round the clock (24×7) RTGS (real time gross settlement) and NEFT (national electronic funds transfer) facility and duty-free import of point-of-sales (POS) machines. Panel suggested that there should be no convenience fee on payments made by customers to government agencies.