Panel moots independent payments regulator

A government panel on digital payments has recommended an independent payments regulator within the framework of the Reserve Bank of India (RBI) and similar treatment for banks and non-banking entities in the payments space.

It has also suggested strengthening existing laws to protect consumers and their privacy.

The panel, headed by former finance secretary Ratan Watal, was constituted in August to suggest ways to encourage India’s movement towards a cashless economy.

Mint New Delhi,14th December 2016

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