RBI initiates 75 digital villages programme
The Reserve Bank of India (RBI) has launched a programme to adopt 75 villages and convert them into digital payment enabled villages. We have also decided to initiate a 75 Digital Villages programme through adoption of 75 villages and involvement of village level entrepreneurs, RBI Governor Shakitkanta Das. Under the initiative, payment system operators (PSOs) will adopt these villages across the country and conduct two camps in each of these villages with an aim to improve awareness and onboard merchants for digital payments, Das said. He was speaking at the launch of Har Payment Digital mission during the Digital Payments Awareness Week (DPAW) 2023. The Governor said Indias payment systems have evolved over the years and there are now multiple systems available round the clock facilitating instant payments. The payment systems in the country have witnessed over 1000 crore transactions every month since December 2022. Talking about the Unified Payments Interface (UPI), which was launched in 2016, Das said the volume of UPI transactions has increased multi fold from 0.45 crore in January 2017 to 804 crore in January 2023. Even in the value terms, UPI transactions have risen from just Rs 1,700 crore to Rs 12.98 lakh crore during the same period.
Tuesday, March 7, 2023 at 12:05 am