As compared to urban areas, it has been observed that the level of digitisation in rural areas is relatively lower. The government has therefore rightly decided to promote digitisation in these areas by involving a host of entities into the process like post offices, fair price shops, banking correspondents as well as petrol pumps, fertilizer depots, municipalities, universities, colleges, hospitals etc. This is a smart move which could bring the rural sector at par with the urban areas in terms of digitisation.
Setting up a mission with a target of 2,500 crore digital transactions for 2017-18 through UPI, USSD, Aadhar Pay, IMPS and debit cards will also provide the necessary direction to the government’s agenda of building a cashless economy. Creation of a Payments Regulatory Board in the RBI will help in resolving the conflicts that could arise as the use of online transactions increase.
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(Sourced from agencies, feature image courtesy:economictimes.indiatimes.com)
