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CM’s panel bats for easy phone banking
New Delhi: Chief Minister N Chandrababu Naidu led panel on digital payments has asked government to roll out a more user-friendly version of USSD – a which is used for making cashless payments via mobile from December 25.According to an official statement, released here on Saturday, the panel also suggested that the procedure for simplified Know Your Customer (KYC) using Aadhaar needs to be adop
New Delhi: Chief Minister N Chandrababu Naidu led panel on digital payments has asked government to roll out a more user-friendly version of USSD – a which is used for making cashless payments via mobile from December 25.
According to an official statement, released here on Saturday, the panel also suggested that the procedure for simplified Know Your Customer (KYC) using Aadhaar needs to be adopted.
The second meeting of the committee was held on Friday at NITI Aayog.
The meeting followed the deliberations held by Naidu, vice chairman of NITI Aayog Arvind Panagariya with the governor and senior management of RBI and CMDs of major private and public sector banks on Thursday in Mumbai.
While noting that RBI and banks are largely supportive of the measures to promote digital transactions, the panel suggested steps including easing the digital payment operations at the level of merchant.
It said that UIDAI would shortly roll out the common Android-based Aadhaar Enabled Payment System (AEPS) application developed in collaboration with TCS that can be downloaded by the merchants.
