Brief by Shorts91 Newsdesk / 06:42am on 08 Sep 2023,Friday Business
According to a G20 policy document by the World Bank, India was able to achieve an 80% financial inclusion rate in just six years due to digital payment infrastructure like Jan Dhan accounts, Aadhaar and mobile phones. The report states this feat could have taken 47 years without such infrastructure. It highlights how digital tools like UPI enabled leapfrogging in financial access. The total value of UPI transactions last fiscal was nearly 50% of India's GDP. Overall, India did total savings of $33 billion through direct benefit transfers. To read full article, click on the link below.
