DigiDhan Awards
The Ministry of Electronics and IT recently celebrated the successful Digital Payment Journey of India in December 2021. The ministry organised a Digital Payment Utsav as a part of the celebrations.
About the Utsav
- The Ministry launched a campaign called Digital Payments Sandesh Yatra. The yatra was launched with a digital payment anthem called “Chutki Baja Ke”.
- Also, as a part of the Utsav, the Ministry conferred Digi Dhan Awards.
Other Innovative launches of the Utsav
- During the event, the following innovative solutions were launched:
- Inclusive Credit for All: Contactless credit cards were launched on RuPay Network. It was launched by India Post Payment Bank, Indian Overseas Bank, Punjab National Bank, Bank of Maharashtra, Kotak Bank, ICICI Bank, Bank of Maharashtra, City Union Bank, YES Bank.
- Payments on the Go: “Rupay – on – the – Go” was launched by City Union Bank. It is a wearable and a paperless contactless payment system
- Empowering Small Merchants: There are 1.5 crores of Kiryana or Retail stores in India. SOFTPOS was launched by Union Bank. It is a mobile app.
About Digi Dhan Awards
- Karnataka Bank received two awards. The bank was awarded for achieving the target with highest percentage in BHIM – UPI transactions.
- E – UNI (Punjab National Bank) won Coveted “Utkarsh Puruskar” Digidhan Award
Achievements
According to the Ministry of Electronics and IT, the total online transactions in India increased from Rs 2,071 crores in 2018 to Rs 5,551 crores in 2021. The achievement was made possible due to several measures by the Indian Government that focused on digital banking. The National Payment Corporation of India was set up. The Bharat Bill Payment System was launched under NPCI for payment of all bills. The Aadhaar Enabled Payment System allows people to carry out financial transaction on micro – ATM. UPI, the advanced version of Immediate Payment Service was launched.
