The Centre announced a new committee, headed by Niti Aayog CEO Amitabh Kant, to form a strategy to expedite the process of transforming India into a cashless economy. The panel is tasked with identifying various bottlenecks affecting access of digital payments. The committee was set up following a directive from the Prime Minister’s Office to back up the demonetisation move.

• 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.
• The aim was to identify various digital payment systems appropriate to different sectors of the economy and coordinate efforts to make them accessible.
• The panel will engage regularly with Central ministries, regulators, state governments, district administration, local bodies, trade and industry associations to promote adoption of digital payment systems.
• The Centre is working towards moving all government transactions to the cashless mode, through a new single window e-payment system that individuals or businesses can use to make payments to any central or state department.
• Other members of the committee include the Financial Services Secretary; IT Secretary, DIPP Secretary; NCPI MD & CEO; Rural Development Secretary and Chairman NHAI.
• The government said the committee would also implement an action plan on advocacy, awareness and hand-holding efforts among public-, micro-enterprises and other stakeholders.