Digital Payments Committee Seeks Cheaper Payments for Improved Financial Inclusion
June 06, 2019
In a bid to improve the state of digital financial inclusion in India, the high-level committee that’s been delegated the responsibility of digital payments has made a case for reducing the costs of the same. Under the leadership of Infosys co-founder Nandan Nilekani, it’s suggested that tax compliance and digital acceptance can be improved by providing the businesses with tax incentives that are proportional to the digital payments furnished by them. It’s also suggested that the central bank RBI can set up an acceptance development fund which new merchants use in badly served areas.