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20
December 2016
Banks should eliminate convenience
charges to implement digital payment system across the country in the post-demonetisation
era, said the chief of India's telecom watchdog official on Monday.
"It is vital to eliminate
convenience charge by the banks to create a well-operational and sustainable
digital and cashless economy," said Telecom Regulatory Authority of India
(TRAI) Chairman R.S. Sharma. The Total
Investment & Insurance Solutions
Noting that cost, convenience and
confidence were crucial factors for digital payments, he said an effective
digital infrastructure was essential for digital remonetisation.
"JAM (Jan Dhan-Aadhaar-Mobile)
trinity creates a robust system for digital inclusion with 1.1-billion Aadhaar
users across the country," said Sharma at a seminar on 'Demonetisation to
Digital Remonetisation', organised by the Federation of Indian Chambers of
Commerce and Industry (FICCI).
As a trinity of the government's
initiative for financial inclusion, JAM links accounts of all the unbanked
individuals with their Aadhaar cards and mobile numbers, ostensibly to plug
leakages of state subsidies.
Sharma also advocated extensive use of
Bharatnet with Digital Cable Television System for digital connectivity across
the country. The Total Investment &
Insurance Solutions
"Interoperable or interlinked
digital wallets can also support the digital payment systems," he said.The Total Investment & Insurance
Solutions
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