Promote digital transactions

Not merely a slogan but a clarion call which we heard from the ramparts of Red Fort from the Prime Minister on August 15, 2019 needs to be given practical shape. From paper based to digital process , almost every activity is getting transformed progressively and in know of its various advantages, other things remaining the same, Prime Minister Narendra Modi otherwise has repeatedly been stressing upon digital transactions between institutions through banking and other financial institutions. Why should the UT of Jammu and Kashmir remain behind and not move with the changing times for which a committee of bureaucrats and heads of various banks was formulated to suggest various measures in this regard as to how the process of digitization of payments would be actually started.
This committee headed by Financial Commissioner Finance was given a fixed time for coming up with considered opinion and suggestions but it has failed to meet the timeline. Some designated banks along with many bureaucrats had to submit its report to the State Level Bankers’ Committee (SLBC). No such report has been furnished as yet, whether the same is prepared or was underway is not precisely known. Since it is a technical subject and in the absence of the report, the Government could not make any headway in the subject matter so far. It is also learnt that no meeting is convened for four months since the formation of the committee in October 2019.
Agreed, to make digitization possible, a lot of technical infrastructure was needed to be provided between the institutions as Government to institutions, Government to persons, Government to merchant , person to Government, debit cards and other financial transactions needed a net work that worked satisfactorily. Some more time may be taken but a concrete proposal must be prepared to enable the Government make a roadmap in order to make digitization possible, at an early date.