Let's Break It Down: The Watal Committee Report
summary
Report condenses 218 pages into 13 actionable recommendations and demands halve cash to GDP in 3 years — from ~12.4% to ~6% — plus open access to RTGS/NEFT for non‑bank PSPs. It proposes an independent Payments Regulatory Board or an independent board inside RBI, large amendments to the Payment and Settlement Systems Act 2007, mandates and subsidies to absorb digital costs, penalties for big cash transactions, and interoperability; practical risks include conflict of interest, weak consumer protections, and unresolved escrow and carrier‑billing treatment.
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chapters (14)
- 0:00Introduction
- 2:03Vision
- 3:20Recommendations
- 10:20Awareness Creation
- 18:22Questions
- 18:45How comfortable are you with quasi industrial regulatory bodies
- 19:40Is there a way out for antitrust perspectives
- 20:45Competition
- 22:48Consumer Caveat Emptor
- 23:58Carrier Billing
- 24:49Interoperability
- 26:07Independent Payment Regulator
- 27:31Peer System Regulator
- 27:46Transactional Charges
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