Mission “Har Payment Digital”
The Reserve Bank of India (RBI) has launched a new initiative called “Har Payment Digital” with the objective of promoting the adoption of digital payments across the country. This initiative was launched during the Digital Payments Awareness Week, which was observed from February 22 to 26, 2021. The “Har Payment Digital” mission aims to make every Indian a user of digital payments and reinforce the ease and convenience of digital payments while also onboarding new users.
Promoting the Use of Digital Payments
The “Har Payment Digital” campaign is part of the RBI’s efforts to promote digital payments and reduce the reliance on cash-based transactions. The initiative aims to create awareness about the benefits of digital payments and encourage more people to use them. Banks and payment system operators will promote the campaign and highlight the various payment channels available to users.
One of the key objectives of the initiative is to onboard new users and expand the reach of digital payments. The RBI plans to achieve this by leveraging technology and providing easy access to digital payment channels. The initiative will also focus on providing a secure and reliable payment ecosystem, which is essential to building trust among users.
Jan Bhagidari Activities
The RBI’s Regional Offices will also play a vital role in promoting the “Har Payment Digital” initiative. They will conduct Jan Bhagidari activities to promote the acceptance and use of digital payments. These activities will include workshops, seminars, and awareness campaigns aimed at educating people about the benefits of digital payments and encouraging them to adopt them.
The RBI’s Regional Offices will also collaborate with various stakeholders, including government agencies, banks, payment system operators, and other entities, to create a robust and secure payment ecosystem. This will involve developing new payment channels, promoting digital literacy, and enhancing the overall user experience.
Benefits of Digital Payments
The “Har Payment Digital” initiative is a significant step towards promoting digital payments in India. Digital payments offer several benefits over traditional cash-based transactions. They are convenient, secure, and easy to use. Digital payments also enable faster and more efficient transactions, reducing the need for physical cash handling.
Digital payments are also an essential tool in promoting financial inclusion. They enable people from all walks of life to access financial services and participate in the formal economy. Digital payments can help reduce the cost of financial services and increase access to credit, insurance, and other financial products.