NEW DELHI: India is set to make a splash at the upcoming G-20 Leaders’ Summit in Delhi on September 9-10, by unveiling five innovative digital payment initiatives aimed at revolutionising the country’s financial landscape.
According to sources, the initiatives will be showcased at the Reserve Bank of India’s (RBI) exhibition pavilion, providing a platform for delegates, media personnel, and visitors to witness live demonstrations of these projects.
The Public Tech Platform (PTP) for Frictionless Credit would be made available for attendees to witness the entire process of onboarding, sanctioning, and disbursing loans, including Kisan Credit Card (KCC) and dairy loans, in a completely digital manner within minutes. This demonstration aims to highlight the transformative potential of digital solutions in rural credit accessibility.
Another key initiative to be showcased is the Central Bank Digital Currency, also known as the Digital Rupee. An informational video will be presented, shedding light on the journey and significance of the Digital Rupee. Furthermore, select banks participating in the pilot program will conduct live transactions, showcasing the security and efficiency of India’s central bank digital currency. Under the category of Digital Payments Initiatives, India will present three notable projects.