Govt constitutes Sub-Committee for digitization of payments

Srinagar

The Government has accorded sanction to the constitution of Sub-Committee to suggest measures to encourage digitization of payments and enhance financial inclusion through digitization in Jammu and Kashmir.

According to the order, the committee will be headed by Financial Commissioner Finance and its other members will be Principal Secretary Information Technology, Secretary Agriculture Production Department, President J&K Bank (Convener SLBC), Deputy General Manager, State Bank of India, Circle Head, HDFC Bank, J&K, Circle Head Punjab National Bank J&K, Managing Director State Cooperative Bank, Chairman, J&K Grameen Bank and Vice President (IT), J&K Bank.

The terms of reference of the Sub-Committee include mapping financial institutions and evolving measures for streamlining of government schemes for facilitating direct benefit transfer and to identify shadow areas and realignment of banking correspondents.

The Sub-Committee has been tasked to recommend dedicated financial literary initiatives to promote digital payments, and to ensure availability of adequate digital infrastructure at all wholesale grain mandis, village haats, etc so as to introduce digital transactions for benefits of rural customers.

The Sub-Committee has been ordered to furnish its report to the State Level bankers Committee in its next hearing.

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