2023 is for complete rollout of Digital Credit System: Ashwini Vaishnaw

Union Minister for Electronic and Information Technology Ashwini Vaishnaw on Thursday said that the government’s major focus would be on the complete rollout of the Digital Credit System this year.

“In 2023, a major focus would be on the complete rollout of the Digital Credit System. I request NPCI (National Payments Corporation of India) take lead. You made the UPI system, you already have the entire building blocks,” the minister said.

With the aim to promote digital payments across India, Ashwini Vaishnaw launched the ‘Digital Payments Utsav’.

The event was held in the presence of eminent officials from Central Ministries, Delhi Police, Banks and FIntechs.

According to the Ministry of Electronics and IT, the “Digital Payments Utsav” is an extraordinary campaign that will showcase India’s journey of digital transformation, with a series of events and initiatives to be held from February 9 to October 9 this year.

“The focus of the campaign will be on promoting digital payments in the country, especially in the cities of Lucknow, Pune, Hyderabad, and Bengaluru, as part of the G20 Digital Economy Working Group (DEWG) event,” it said.

The minister further said that that Mission Bhashini – National Language Translation Mission and Digital Payments have come together to make UPI 123 Pay available in the local language.

“This will enable a common person to make payments in her local language interface through voice,” he added.

According to the ministry, the launch will also highlight how Digital payments ensure financial inclusion and empower small merchants, street vendors and common people of the country.

“The Digital Payment Utsav will also be an opportunity to make digital payments as ‘whole of Government’ initiatives in its true spirit with active participation from other central ministries,” it added.

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