Expanding and Deepening of Digital Payments Ecosystem- (Reserve Bank of India) (07 Oct 2019)

MANU/RMIC/0138/2019

Banking

With a view to expanding and deepening the digital payments ecosystem, it has been decided that all State/UT Level Bankers Committees (SLBCs/UTLBCs) shall identify one district in their respective States/UTs on a pilot basis in consultation with banks and stakeholders. The identified district shall be allotted to a bank having significant footprint which will endeavour to make the district 100% digitally enabled within one year, in order to enable every individual in the district to make/receive payments digitally in a safe, secure, quick, affordable and convenient manner. This would, inter alia, include providing the necessary infrastructure and literacy to handle such transactions.

SLBCs/UTLBCs shall endeavour to ensure that to the extent possible, districts identified are converged with the 'Transformation of Aspirational Districts' programme of the Government of India. The allotment of the identified district to a bank should be done, as far as possible, through mutual consultation and voluntary acceptance by the bank. Further, SLBC/UTLBC Convenor Banks are advised to monitor the progress made in this regard on a quarterly basis and report the same to concerned Regional Offices/Sub-Offices of the Reserve Bank of India.

Tags : EXPANDING DIGITAL PAYMENTS ECOSYSTEM