Ratan Watal committee
The Ratan Watal committee has recently submitted report on promoting digital payments to the Union Government. The committee has suggested a separate regulator to deal with issues concerning payment, among others. The report suggested a host of fiscal incentives to promote digital transactions. It suggested withdrawal of all charges levied by government departments and utilities on digital payments and making it mandatory for government departments and agencies to provide option to consumers to pay digitally. The report also suggested putting a special emphasis on digital payments for recurring low value transactions and reducing custom duties on payments acceptance equipment. The committee has also suggested instituting awards to promote digital transaction.