Home   »   Economy and Finance   »   Union Minister Ashwini Vaishnaw launch ‘Digital...

Union Minister Ashwini Vaishnaw launch ‘Digital Payments Utsav’

Ashwini Vaishnaw launch ‘Digital Payments Utsav’

The “Digital Payments Utsav,” a comprehensive campaign aiming at encouraging digital payments throughout India, was launched by Shri Ashwini Vaishnaw, Minister for Electronics and Information Technology, Communications, and Railways.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

‘Digital Payments Utsav’: Event Dignitaries

On the event, dignitaries included Shri Alkesh Kumar Sharma, Secretary, MeitY, Ms. Simmi Choudhary, Economic Advisor, Shri Sanjay Bahl, Director General, CERT-In, Shri Akash Tripathi, CEO, MyGov, and Dilip Abse, MD & CEO, NPCI. The occasion, which was hosted in front of esteemed representatives from the Central Ministries, Delhi Police, Banks, and Fintechs, represents a crucial step in the nation’s march towards digital transformation.

Digital credit to be introduced this year; NRIs in 10 countries to get UPI service

‘Digital Payments Utsav’: Highlights

  • An exceptional campaign called “Digital Payments Utsav” will highlight India’s digital transformation path through a number of events and activities from 9 February to 9 October 2023.
  • As part of the G20 Digital Economy Working Group (DEWG) event, the campaign will concentrate on promoting digital payments throughout the nation, particularly in the cities of Lucknow, Pune, Hyderabad, and Bengaluru.
  • Shri Ashwini Vaishnaw revealed his goal of having the entire digital credit system in place by 2023 and gave the NPCI the go-ahead to lead the charge in that regard.
  • He also wished each bank much luck and urged people to embrace the prime minister’s vision of how the digital revolution will alter the lives of the nation’s hard-to-reach citizens.
  • He stated that UPI 123 Pay is now available in the local language thanks to a partnership with Digital Payments and Mission Bhashini, the National Language Translation Mission.
  • A regular individual will be able to make payments using voice commands in her own language as a result.

RBI Monetary Policy: Repo rate raised by 25 basis points; FY23 GDP growth estimate raised

‘Digital Payments Utsav’: UPI outside India

  • In his opening remarks, Shri Alkesh Kumar Sharma, Secretary, MeitY, informed the audience of the ongoing initiatives to broaden the use of the Unified Payment Interface (UPI) outside of India.
  • According to him, the goal is to make UPI a widely used form of payment through uniting India’s disconnected regions.
  • He emphasised that the National Payments Corporation of India (NPCI), in collaboration with nations like Nepal, Singapore, Bhutan, the United Kingdom, and the United Arab Emirates, has already made progress in this area.
  • The secretary also mentioned that NRIs living in Australia, Canada, Hong Kong, Oman, Qatar, Saudi Arabia, Singapore, the United Arab Emirates, the United Kingdom, and the United States will soon have access to UPI services.

Additionally, 28 DigiDhan Awards for outstanding achievement in the field of digital payments were given to top-performing banks, bankers, and fintech businesses in several categories. The awards honour these organisations’ efforts to advance electronic payments and advance the development of the digital economy.

Also Read: Union Budget 2023: Railways gets Rs 2.40 lakh crore capital outlay

NSE Gets Sebi Nod to Set up Social Stock Exchange_70.1

Leave a comment

Your email address will not be published. Required fields are marked *