Current Affairs Today

Recommendations of Ratan Watal Committee for Digital Payments

The Committee on Digital Payments headed by Ratan P. Watal has submitted its final report to the Union Finance Ministry.

It was 11-member committee notified in August 2016 by the Finance Ministry. It was tasked to review existing payment systems in the country and recommend appropriate measures for encouraging Digital Payments.

It was having representatives from Reserve Bank of India (RBI), Unique Identification Authority of India (UIDAI), tax department and various industry bodies in the payments space.

Recommendations