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1. The Launching of MissionHar Payment Digitaltoday during theDigital Payments Awareness Week (DPAW) 2023reinforces RBIs commitment to deepen digital payments in the country. 2. I am happy to note that the Department of Payment and Settlement Systems (DPSS) of the RBI is celebrating its 18th anni
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FAQ :
The 'Har Payment Digital' mission is an initiative by the RBI to reinforce the ease and convenience of digital payments and encourage more consumers to adopt them.
The RBI is asking banks and NBFCs to promote digital payment channels and facilitate the onboarding of new consumers into the digital payment ecosystem.
Examples include the Unified Payments Interface (UPI), Bharat Bill Payment System (BBPS), National Electronic Toll Collection (NETC) System, and the National Automated Clearing House (NACH) system.
Digital payments have seen significant growth, with UPI accounting for 75% of total digital payments. Since December 2022, India has recorded over 1000 crore digital transactions every month.
The RBI's vision is 'E-Payments for Everyone, Everywhere, Everytime', with a focus on inclusion to ensure digital payments are accessible to all.
This programme involves adopting 75 villages across the country and working with village-level entrepreneurs to convert them into digital payment-enabled villages, enhancing awareness and merchant onboarding.
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