Govt forms panel on digital economy

Former UIDAI chief Nandan Nilekani has been roped in by the BJP government as a special invitee in the 13-member committee of chief ministers, representing different political outfits, set up to promote digital payment systems, mainly in rural areas, after the Centre scrapped high-value currency notes.
The panel, headed by TDP boss and Andhra Pradesh CM Chandrababu Naidu, also has BJD chief and Odisha CM Naveen Patnaik, chief minister of MP Shivraj Singh Chouhan, Sikkim CM Pawan Kumar Chamling and V Narayanasamy, who is heading the Congress government in Puducherry , as members. Maharashtra chief minister Devendra Fadnavis is also a member of the committee along with NITI Aayog vice-chairman Arvind Panagariya.
However, Bihar chief minister Nitish Kumar, who has backed Prime Minister Narendra Modi's demonetisation move and irked opposition parties, is not on the panel. Other special invitees in the committee are Janmejaya Sinha, chairman, Boston Consulting Group, Rajesh Jain, managing director, netCORE, Sharad Sharma, co-founder, iSPIRIT and Jayant Varma, professor (finance), IIM (Ahmedabad).
The high-powered panel is mandated to identify global best practices for implementing an economy primarily based on digital payment and examine the possibility of adoption of these global standards in the Indian context. The panel will also outline measures for rapid expansion and adoption of the system of digital payments like cards (debit, credit and pre-paid), digital-wallets e-wallets, internet banking, unified payments interface (UPI), banking apps, etc and shall broadly indicate the roadmap to be implemented in one year. The Naidu-led panel will also prepare an action plan to list the benefits of a digital economy.

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