"Cost, Convenience, and Confidence are crucial factors for a successful Digital Payment System implementation in India," said R. S. Sharma, Chairman, Telecom Regulatory Authority of India (TRAI) during a seminar on "Demonetisation to Digital Remonetisation" held at FICCI here.
FICCI organised the ICT policy dialogue with an agenda to discuss the challenges and opportunities that lie before the ICT sector, government and the regulators following demonetisation.
Sharma highlighted the pillars of Digital India and mentioned the need for an effective digital infrastructure, and how availability and affordability of digital solutions formulates the base of digital remonetisation.
He highlighted how JAM Trinity creates a robust system within India, which further creates a digital inclusion with 1.1 billion Aadhar users across India.
Sharma recommended that, in order to create a well operational and sustainable digital and cashless economy, it is vital to eliminate convenience charge by the banks.
He firmly suggested that interoperatable or interlinked digital wallets can additionally support the digital payment systems of India. Among other recommendations made by the TRAI chairman were that the implementation of Bharatnet will be faster and effective with PPP model, and further combined with digital cable television system, India will reach a new level of digital connectivity.
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The TRAI chairman session was followed by a panel discussion on "Policies for Fast forwarding Digital Transactions".
The session was chaired by Sanjeev Gupta, Additional Secretary, DIPP, Ministry of Commerce and Industry, with Mr. Chetan Krishnaswamy, Country Head - Public Policy, Google India, Mr. P Balaji, Director - Regulatory and External Affairs, Vodafone India Limited, Mr. Pankaj Mohindroo, National President, Indian Cellular Association, Mr. Taron Mohan, Founder, Nextgen Telesolutions Pvt Ltd, Mr. Biswanath Sengupta, Senior Vice President and Programme Director, UIDAI, HCL Infosystems Ltd, Dr Mahesh Uppal, Director, ComFirst (India) Pvt Limited and Mr David Abecassis, Partner, Analysys Mason as the esteemed panelists.
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