Digital Payments Utsav: It is an event to promote Digital Payments across the country. Digital Payments Utsav 2023 is important for UPSC Prelims 2023 and UPSC Mains Exam (GS Paper 2- Various government initiatives to promote digital infrastructure and digital payments in the country.)
Digital Payments Utsav in News
Recently, ‘Digital Payments Utsav’ and a comprehensive Campaign Plan was launched by the Minister for Electronics & Information Technology (MeitY), Communications and Railways, Shri Ashwini Vaishnaw as its Chief Guest.
G20 Digital Innovation Alliance (G20-DIA) was Launched as Part of India’s G20 Presidency
Digital Payments Utsav 2023
Digital Payments Utsav Campaign has been planned during 9th February to 9th October 2023, in coordination with all stakeholders for promotion of Digital Payments across the country.
- Focus Cities: Digital Payments Utsav 2023 campaign is being implemented with particular focus on G20 Digital Economy Working Group (DEWG) event cities, namely Lucknow, Hyderabad, Pune and Bengaluru.
- Mandate: Through Digital Payments Utsav Campaign, MeitY endeavours to increase the access to easy and convenient digital payment solutions to all citizens, with particular focus on inclusion of the hard-to-reach geography and population, including small merchants and street vendors.
- Campaign Duration: Digital Payments Utsav is being organized from 9th February to 9th October 2023.
- Significance: The launch of Digital Payment Utsav Event will highlight how Digital payments are ensuring financial inclusion and empowering 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.
Digital Payments Utsav Events/Releases/Initiatives
A series of events/initiatives will be held during the entire duration of Digital Payments Utsav that would showcase India’s journey of digital transformation. These events/initiatives will be directed towards the transformation of India into a digitally empowered society and knowledge economy and generate self-reliance for the country in the field of technology and communication. The event will have-
- Release of G20 co-branded QR code,
- Release of Coffee Table Book showcasing India’s journey global leadership in Digital Payments and digital inclusion,
- Launch of innovative products from various banks that makes digital payments simplified and easy to use,
- Flag off of Digital Payment Sandesh Yatra with the aim to make citizens aware about various digital payments solutions and sensitise them about security and safety of digital payments, and
- DigiDhan awards for top performing banks in digital payments space.
Digital Payments Utsav Conclusion
The Digital Payments Utsav Campaign will conclude with presentation of awards to bankers and fintech companies in different categories for outstanding performance, flag off Digital Payments Sandesh Yatra and closing remarks by the Economic Adviser and Group Coordinator, MeitY.
Digital Payments Utsav 2023 FAQs
1. Who is organizing Digital Payments Utsav 2023?
Ans. Digital Payments Utsav 2023 is being organized by the Ministry of Electronics & Information Technology (MeitY).
2. When will be the Digital Payments Utsav 2023 organized?
Ans. Digital Payments Utsav is being organized from 9th February to 9th October 2023.
3. Which are the focus cities under the Digital Payments Utsav Campaign 2023?
Ans. Digital Payments Utsav 2023 campaign is being implemented with particular focus on G20 Digital Economy Working Group (DEWG) event cities, namely Lucknow, Hyderabad, Pune and Bengaluru.
RBI Launched Retail Central Bank Digital Currency (CBDC) on Pilot Basis
RBI Launched Retail Central Bank Digital Currency (CBDC) on Pilot Basis
