MeitY organised Digital Payment Utsav

As a part of ‘Azadi Ka Digital Mahotsav’, the Ministry of Electronics & Information Technology (MeitY) hosted a unique event called ‘Digital Payment Utsav’ on December 10, 2021.

Key Points

• Under the Digital Payment Utsav, the journey and rise of digital payments in India was celebrated.
• It brought the leaders from Government, fintech companies, banking sector, and start-ups, together.

Where was the event held?

Event was held at the India Habitat Centre.

About Digital Payment Utsav

• The Digital Payment Utsav event witnessed the:

1. Unveiling of the DIGIDHAN logo,
2. Kaunch of an awareness campaign called Digital Payments Sandesh Yatra along with a digital payments anthem named ‘Chutki Baja ke’ (cashless, touchless, paperless).

• During the event, top Banks and Fintechs were awarded & recognized across several categories for their achievements in financial year 2019-20 and 2020-21 towards the promotion of digital payments.
• MeitY also recognised the role played by four payment system aggregators for onboarding street vendors under PM SVANidhi Scheme.

Launch of innovative solutions

Digital Payment Utsav witnessed the launch of innovative solutions such as:

1. Payments On the Go: “Rupay-on-the-Go” was launched by City Union Bank as wearables have re-defined the true paperless contactless payments.
2. Inclusive Credit for All: Credit cards are the next big in fintech & contactless. To drive this way forward to the next level, India Post Payments Bank-Punjab National Bank, YES Bank, Kotak Bank, ICICI Bank, Indian Overseas Bank, Bank of Maharashtra, Indian Bank and City Union Bank launched Contactless Credit cards on RuPay network.
3. SOFTPOS- Empowering Small Merchants: India has around 1.5 crore retail stores or Kiryana stores. The SOFTPOS android-based mobile app has been launched by Union Bank for point of sales. This app will help in furthering the cause of digital payment adoption.

Art & Cultural arena

Art and Culture arena at this Utsav attracted the attendees through captivating performances such as Sand Artist performance, Flash Mob and varied stalls by banks & fintechs.

Month: Current Affairs - December, 2021