Street Vendors’ Loan: Fast work is being carried out to create a “Digital India under the Modi government. In this way the year ahead, digital loan services will be introduced through the state government. In announcing the service, Telecom, and Information Technology Union Minister Ashwani Vaishnav stated.
That this service will allow even street vendors
of small sizes to get loans from banks with large amounts. In a speech at the Digital Payments Festival’ Union Minister stated. That the service will be introduced similarly to the UPI service. This is a significant accomplishment as part of Prime Minister Narendra Modi’s “Digital India” vision.
UPI will soon become a worldwide payment product
Union Minister declared that “This year we’ll begin digital loans. National Payments Corporation of India (NPCI) is expected to be operational within the next 10-12 years. In this presentation, The Electronics and IT Minister unveiled the first prototype of the voice-based payment system that will be used for UPI. At the time secretary of the ministry, Alkesh Sharma stated that UPI will soon become a global payment service.
The partnership with these countries was established
In this regard, NPCI has started partnerships with countries such as Nepal, Singapore, and Bhutan. He said the media that UPI services will soon be offered to non-resident Indians (NRIs) from the following countries: Australia, Canada, Hong Kong, Oman, Qatar, Saudi Arabia, Singapore, UAE, the UK, and the USA.
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