New Delhi: In a cornerstone development, the visionary initiatives taken by the government led by Prime Minister Narendra Modi towards digital financial inclusion have made India a global leader in the world of digital payments as the county has become a pre-eminent nation in the use of technology to improve lives of citizens through transparent governance.
At a time when a developed country like Germany, as per recent media reports, is facing challenges in transferring money to its citizens' accounts through digital payments due to inadequate infrastructure, India has created a milestone by transferring Rs 24.8 lakh crore through DBT mode since 2013.
In the single financial year 2021-22, India has transferred Rs 6.3 lakh crore and on average above 90 lakh DBT payments were processed daily in the last fiscal.
Committed towards the welfare of farmers, around Rs 20,000 crore was transferred directly into bank accounts of more than 10 crore beneficiaries under the 11th installment of PM Kisan Samman Nidhi Yojana. It's the outcome of a robust technological support system that India has made more than 10 crore transactions at the click of a button on a single day under the PM Kisan Samman Nidhi Yojana.
While speaking about the successful model of digital payments and DBT, which is benefiting millions of Indian citizens, Union Minister of State for Electronics & Information Technology Rajeev Chandrasekhar said: "India Stack and other various digital government solutions are now the envy of the world's nations. India leads digital and digital leads India, thanks to PM Narendra Modiji's vision."
He added: "As far as digital payments are concerned, more than 8,840 crore digital payment transactions were performed during 2021-22 with nearly 3,300 crore in FY 2022-23 (up to July 24, 2022), which means on an average, 28.4 crore digital transactions are performed in a day."
"This success story of India in the creation of digital assets like DBT, JAM trinity, NPCI, etc can be an example from which not only 'developing' but 'developed' countries may also learn," the government said in a statement on Thursday.
Besides, India conducted 5.3 crore Aadhaar authentications per day (August 2022) and filed over 70 lakh income tax returns in a single day on July 31, 2022.