Digital Loan Service: What is the government’s digital loan service, which will provide easy loans from big banks
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Digital Loan Service Government will start digital loan service this year. Giving this information, Telecom and Information Technology Minister Ashwini Vaishnav said that with this service even small street vendors will be able to take loans from big banks.
Addressing the ‘Digital Payments Festival’, Vaishnav said that it will be introduced like UPI service. This will be a major achievement under Prime Minister Narendra Modi’s ‘Digital India’ vision.
Vaishnav said, this year we will start digital loan service. National Payments Corporation of India (NPCI) will be way ahead in the next 10-12 years. In this event, the Minister of Electronics and IT (MeitY) unveiled a prototype of a voice-based payment system for UPI.
On this occasion, Ministry Secretary Alkesh Kumar Sharma said that UPI will become a global payment product, for which NPCI has already started partnership with countries like Nepal, Singapore and Bhutan.
He told that UPI services will be available to Non-Resident Indians (NRIs) of 10 countries Australia, Canada, Hong Kong, Oman, Qatar, Saudi Arabia, Singapore, UAE, UK and USA.
Ashwini Vaishnav informed that the government is working on all fronts of digital payments to increase the popularity of UPI in local languages and make it accessible to more people. Work is being done through NCPI to take it to every part of the country. The government plans to run digital payments on a large scale. Let us tell you that this time India is presiding over the G20. (with language input)
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