01 December 2016 Current Affairs: NITI Aayog, under the banner of the Union Government, on 30 November 2016 constituted a 13-member committee to promote cashless economy. The committee will be headed by Andhra Pradesh CM Chandrababu Naidu.
The committee will be formed by Chief Ministers of various states representing different political parties to examine and promote the use of digital payment systems across the country.
- Chandrababu Naidu (Chief Minister of Andhra Pradesh) : Convener
- Naveen Patnaik (Chief Minister of Odisha) : Member
- Shivraj Singh Chouhan (Chief Minister of Madhya Pradesh) : Member
- Pawan Kumar Chamling (Chief Minister of Sikkim) : Member
- V. Narayanasamy (Chief Minister of Puducherry) : Member
- Devendra Fadnavis (Chief Minister of Maharashtra) : Member
- Arvind Panagariya (Vice- Chairman of NITI Aayog) : Member
- Amitabh Kant (CEO of NITI Aayog) : Member Secretary
- Nandan Nilekani (Former Chairman, UIDAI) : Special invitee
- Janmejaya Sinha (Chairman, Boston Consulting Group) : Special invitee
- Rajesh Jain (Managing Director, netCORE) : Special invitee
- Sharad Sharma (Co-founder, iSPIRIT) : Special invitee
- Jayant Varma (Professor (Finance) at IIM Ahmedabad) : Special invitee
The Committee will identify the best global practices for implementing an economy primarily based on digital payment.
It will identify and outline measures for rapid expansion and adoption of the system of digital payments like cards (Debit, Credit and pre-paid), Digital-wallets, internet banking, Unified Payments Interface (UPI), banking apps, etc. It will develop an action plan to reach out to the public at large with the objective to create awareness and help them understand the benefits of switching over to digital economy.
It will prepare a roadmap for the administrative machineries in the States to facilitate adoption of digital modes of financial transactions.
It will identify and address problems and indicate solutions pertaining to adoption of the steps required to move towards a digital economy. It will associate with the key stakeholders for implementation of the suggested steps.
It will examine and address any other associated issues which are not specifically mentioned and will devise its own procedures for conducting business, meetings or even constitution of sub-groups.