India: Payments Council Welcomes Recommendations Made by High-Level Committee on Deepening Digital Payments

On June 4, 2019, the Payments Council of India (PCI) announced that it supported the recommendations of the High-Level Committee on Deepening Digital Payments (CDDP) and encouraged their timely implementation.

In January 2019, the Reserve Bank of India tasked the CDDP with identifying gaps in the ecosystem and suggesting a medium strategy for deepening digital payments and measures to strengthen the safety and security of digital payments. The committee was also tasked with reviewing the level of digital payments to encourage financial inclusion and establishing a road map to increase digital financial services. The CDDP  issued a report with recommendations to the RBI, Industry and government.

The PCI noted that it appreciates the committee's recommendations to:

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