Indian Economy News

RBI has launched a mission to make every citizen a user of digital payment

  • IBEF
  • March 7, 2023

As part of Digital Payments Awareness Week (DPAW) 2023, Reserve Bank of India (RBI) Governor Mr. Shaktikanta Das announced the ‘Har Payment Digital’ campaign, which aims to make every citizen of the nation a user of digital payments. The theme of the awareness week is ‘Adopt Digital Payments and Teach Others Also’.

The Central Bank in a statement stated that digital payments in India have seen an exponential increase in the last few years. Further, the citizens of the country have also embraced the use of digital payments for the speed, convenience, and security that it offers. Nevertheless, despite being aware of digital payments, a sizable portion of the population still does not use them.

According to a survey conducted by RBI, over 42% of 90,000 respondents said that they had used digital payments, 35% said they were non-users though aware of digital payments, and 23% weren't aware of digital payments.

To convert non-users into users of digital payments, the central bank will begin the ‘Har Payment Digital’ (HPD) mission, which will last until the period of Vision 2025. ‘E-Payments for Everyone, Everywhere, and Everytime’ is the subject of Vision 2025.

RBI in collaboration with the banks and other stakeholders of the payment systems will carry out a multimodal campaign covering print, television, radio and social media during the week. To achieve the goal of making every person a user of digital payments, users of digital payments will be urged through the campaign to educate non-users about the simplicity, security, and convenience of digital payments. In addition, in order to broaden the use of digital payments in the nation, the RBI has planned several other campaigns as well.

Further, payment system operators will adopt 75 villages across the country to convert them into digital payment-enabled villages. These villages would be distinct from those in the districts covered under the Digital Banking Units (DBUs), Expanding and Deepening of Digital Payments Ecosystem (EDDPE), and the Aspirational Districts Programme.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.