The committee consists of secretaries of Ministry of Electronics and Information Technology Aruna Sundararajan, Department of Investment and Public Asset Management Neeraj Kumar Gupta, and Niti Aayog’s chief executive officer Amitabh Kant. “Mainly the committee has been asked to recommend the changes in infrastructure that would be required to be made in order to make India a cashless economy on war-footing,” the official said. On Monday, a two-member ministerial group comprising Piyush Goyal and Ravi Shankar Prasad met to formulate a strategy for areas that would need a fillip to promote cashless transactions in the country. These included areas such mobile wallets, payment service operators, unified payments interface, and banking correspondence through common service centres (CSCs). The Reserve Bank of India has also been announcing steps to promote cashless modes such as prepaid payment instruments by increasing the monthly limits on these instruments.

Source: Indian Express November 24, 2016 21:40 UTC