Chapter 3

Watal Committee Calls for Universal Access and Payment Neutral Policies

Most recently, the Watal Committee indicated India needs an all-inclusive digital payment acceptance policy, access to infrastructure and incentives. This call for payment neutral multi-party acceptance strategies and infrastructure should be reflected in incentives, policy and regulation:

Technology Neutrality

Requires regulation to be outcome based, without mandating the adoption of any particular type of technology.

Infrastructure Neutrality
and Universal Access

Requires essential infrastructure to be provided on a non-discriminatory, Universal Access basis to all products and services based on that infrastructure.

Ownership Neutrality

Governance standards for regulated entities should not depend on the form of organisation of the financial firm or its ownership structure.

Together we can build the best electronic payments system for a Less-Cash India.