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Committee of Chief Ministers to examine and implement measures to implement digital payment systems

News and Press Release - Dated:- 30-11-2016 - NITI Aayog has constituted a Committee of Chief Ministers representing different political parties to examine and promote the use of digital payment systems across the country. The move is in line with th .....

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ill also include Vice Chairman, NITI Aayog; CEO, NITI Aayog; and experts. The composition of the Committee is as follows: (i) Shri Chandrababu Naidu, Hon ble Chief Minister of Andhra Pradesh; Convener (ii) Shri Naveen Patnaik, Hon ble Chief Minister .....

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Devendra Fadnavis, Hon ble Chief Minister of Maharashtra Member (vii) Shri Arvind Panagariya, Vice- Chairman, NITI Aayog Member (viii) Shri Amitabh Kant, CEO, NITI Aayog Member Secretary (ix) Shri Nandan Nilekani, former Chairman, UIDAI Special invi .....

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e), IIM (Ahmedabad) Special invitee The Terms of Reference of the Committee shall be as under: (i) The Committee shall identify the global best practices for implementing an economy primarily based on digital payment and examine the possibility of ad .....

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ernet banking, Unified Payments Interface (UPI), banking apps etc. and shall broadly indicate the road map to be implemented in one year; (iii) It shall evolve an action plan to reach out to the public at large with the objective to create awareness .....

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s bottlenecks and indicate solutions pertaining to adoption of the steps required to move towards a digital payments economy; (vi) Associate the key stakeholders for implementation of the suggested steps towards a digital payments economy; (vii) Deli .....

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business/ meetings/ constitution of sub-groups, etc. BACKGROUND: Economic growth with financial inclusion and equity is a key priority of the Government. By enabling broader access and participation in the financial system, the Government aims to red .....

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y overcoming physical barriers and would thus enhance access to financial services rapidly. In addition, it would also enable formalization of all financial transactions thus increasing transparency and plugging leakages from the system. NITI Aayog w .....

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