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:
Requires regulation to be outcome based, without mandating the adoption of any particular type of technology.
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.
Governance standards for regulated entities should not depend on the form of organisation of the financial firm or its ownership structure.