Azadi Ka Digital Mahotsav- Relevance for UPSC Exam
- GS Paper 2: Governance, Administration and Challenges- Government policies and interventions for development in various sectors and issues arising out of their design and implementation.
Azadi Ka Digital Mahotsav- Context
- Recently, the Ministry of Electronics and Information Technology (MeitY) hosted a unique event ‘Digital Payment Utsav’ as part of the week-long ‘Azadi Ka Digital Mahotsav’.
- The Azadi Ka Digital Mahotsav event was held at the India Habitat Centre.
- Azadi Ka Digital Mahotsav event witnessed the unveiling of-
- The DIGIDHAN logo,
- Digital Payments Sandesh Yatra: an awareness campaign.
- Digital payments anthem titled ‘Chutki Baja ke’ (cashless, touchless, paperless).
SAKSHAM Centres- Centre for Financial Literacy & Service Delivery
Azadi Ka Digital Mahotsav
- About: ‘Azadi Ka Digital Mahotsav- Digital Payment Utsav’ is being held to celebrate the journey and rise of digital payments in India.
- Participation: Azadi Ka Digital Mahotsav brought together leaders from the Government, banking sector, fintech companies and startups.
- Objective: The Digital Payment Utsav aims to bring together players of the BFSI and fintech space under one roof for cooperation and innovation.
- It also aims to celebrate their hard work and commitment towards the growth of digital payments backed up by constant innovation.
- Parent Ministry: Ministry of Electronics and Information Technology (MeitY) is entrusted with the responsibility to organize Azadi Ka Digital Mahotsav.
Azadi Ka Digital Mahotsav- Key Initiatives
‘Azadi Ka Digital Mahotsav- Digital Payment Utsav’ saw the launch of the following innovative solutions
- Payments On the Go: Wearables are re-defining the true paperless contactless payments, catalyzing them further, Bank of Baroda and City Union Bank launched Rupay-on-the-Go.
- Inclusive Credit for All: Credit cards represent the next big in fintech and contactless is truly the way forward. To drive it to the next level, India Post Payments Bank-Punjab National Bank, Kotak Bank, YES Bank, Indian Overseas Bank, ICICI Bank, Indian Bank, Bank of Maharashtra, and City Union Bank launched Contactless Credit cards on the RuPay network.
- Empowering Small Merchants: India has close to 1.5 crore retail stores/ Kiryana stores. Union Bank announced an android-based SOFTPOS mobile app for point of sales, which will further the cause of digital payment adoption.