- On July 24, 2020, the Reserve Bank of India (RBI) publicized the “Report of the Committee for Analysis of QR (Quick Response) Code” under the leadership of Prof. Deepak B. Phatak on its website for comments/suggestions of various industry players.
- The committee has advised phasing out of proprietary, closed-loop QR codes as it requires customers to manage separate apps.
- The committee was constituted by RBI on 23rd december 2019.