Digital India Programme - Importance of electronic payments!

27 Apr 2022

Digital India Programme – Importance of electronic payments!

Digital India Programme – Importance of electronic payments!India's Prime Minister Narendra Modi remarked that tiny electronic payments or internet purchases are helping to establish a large digital economy in his monthly Mann Ki Baat radio broadcast.
Mann Ki Baat is a radio show in India that is hosted by Prime Minister Narendra Modi. He talks to the people of the country on All India Radio (AIR).

Mann ki Baat and Electronic Payments!

On 24 April's broadcast of Mann ki Baat, Prime Minister Narendra Modi encouraged Indians to go "Cashless Day Out" or make electronic payments once in a while to help the digital economy.
He said that electronic payments were developing a digital economy and encouraging an atmosphere of "honesty," with more than 20,000 crores worth of electronic payments taking place every day in the country.
Mr Modi also stated that small electronic payments were helping to build a big digital economy.

A few benefits of electronic payments!

One of the main advantages of electronic payments is that they are much more secure than regular cash transactions, as they require proper verification and authentication.
Banks and other electronic payments platforms also provide added security for digital transactions in the form of  One-Time Passwords and cross-verification, which can help in preventing fraudulent transactions.
Showrooms, malls and even small shops have now started accepting electronic payments. In addition, the entire transaction has been automated.
Right from debit cards and credit cards to digital wallets like Google Pay and PhonePe, one can now choose from a wide range of options for their preferred mode of digital payment. 
Some banks and digital wallets provide special rewards and offer to students, elders, working professionals etc. 
Using electronic payments is a great way to ensure safe and contactless transactions. Avoiding physical touch is critical while the Covid-19 situation continues to loom large in our minds.

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