India Going Digital E-Wallet UPI: NITI Aayog says that with the promotion of digitization in the country, the use of e-wallet and UPI has increased instead of cash. This has brought a change in the financial behavior of the people.
New Delhi. With the promotion of digitization in the country, the use of e-wallets and UPI has increased instead of cash. This has not only made it easier for people to access financial services, but has also changed their financial behavior. They are using e-wallets and UPI instead of cash.
NITI Aayog Vice-Chairman Rajiv Kumar says that financial inclusion has taken place due to the advent of fintech companies. That is, financial services have expanded more. With the rise in digital transactions, the movement of cash in the economy has reduced.
India will prosper rapidly in digital payments
Speaking at the Fintech Open Summit of NITI Aayog, Rajiv said that it is important to promote digital payments to build a more equitable, prosperous and financially inclusive India. Digitization is increasing in India and people are getting easy access to financial services. This has led to a change in the financial behavior of the consumers. Now they are adopting e-wallet and UPI instead of cash.
Government believes in creating a platform like UPI
Speaking at the event, Union Minister of Railways, Communications, Electronics and IT Ashwini Vaishnav said that the government believes in creating open platforms like COVIN and UPI for health, logistics and other sectors. Vaishnav said an open platform has been created through public investment, through which many private entrepreneurs, startups and developers can come together to create innovative solutions.
