New Delhi: As citizens struggle to access their own money deposited in banks, the 13-member panel led by Andhra Pradesh Chief Minister N. Chandrababu Naidu and formed by Prime Minister Narendra Modi to promote digital payments, will be submitting an interim report to the Prime Minister's Office in a 'couple of days'. Interestingly, the panel also consists of Nandan Nilekani as a special invitee. Mr Nilekani is a former UIDAI chief and member of the Congress party, who had unsuccessfully contested the 2014 Lok Sabha elections.
Mr Naidu, who along with fellow panel members had a discussion with RBI chief Urjit Patel and other bank heads in Mumbai on Thursday to explore ways of promoting cashless transactions across the country, said the panel will meet again on December 9 and then submit its interim to the PMO in a 'couple of days'. During their meeting with Mr Patel and other heads of PSU banks, the panel asked RBI to ensure distribution of POS machines in villages, increase penetration of smartphones with Android software, and also promote Aadhar-enabled payments with the help of National Payments Commission.
Mr Naidu was speaking at a press conference on Thursday evening, which was also attended by Niti Aayog vice chairman Arvind Panagariya and its CEO Amitabh Kant, who are also part of the 13-member panel.
Mr Naidu when asked as to how will people take up cashless transactions once currency notes of 500 denomination will be floated after December 15, he claimed that ‘some cash will be required’ even in a cashless economy.
