The government has now set up an 11-member panel, headed by former finance secretary Ratan P Watal to suggest ways to promote electronic transactions through incentives such as tax rebates, cash back and lottery. The panel will recommend steps for leveraging unique identification number or other identify proofs for authenticating card, and digital transactions, along with examining the setting up of a Centralised KYC registry.
The panel will also study feasibility of creating a payments history of all card/digital payments and ensure that merchants/consumers can leverage the data to access "instant, low cost micro-edit" through digital means and create necessary linkage between the payment history and credit information, as per an order issued by the finance ministry. The committee will study introduction of single window system of payment gateway to accept all types of cards/digital payments of government receipts and enable settlements via NPCI or other agencies within specified timeliness.
It will also look into the scope of integration of all government systems like Public Finance Management System, PayGov, Bharatkosh and eKuber. Committee members include former RBI Deputy Governor HR Khan, Chairman of Indian Banks Association, President of Nasscom and CBDT Chairperson.
