“Har Payment Digital” (HPD) mission: RBI
The central bank will launch “Har Payment Digital” (HPD) mission that would run till the period of Vision 2025, with an intention to convert the non-users into users of digital payments. Vision 2025 has its theme as “E-Payments for Everyone, Everywhere and Everytime”
- RBI in collaboration with the banks and other stakeholders of the payment systems will carry out a multimodal campaign covering print, television, radio and social media during the week around the theme — “Adopt digital payments and Teach others also” Digital Awareness Week is being organized from 6th to 12th March 2023 to promote online transactions.
- During the Awareness Week, the Regional Offices of RBI are conducting awareness and outreach programs as part of the ‘Jan Bhagidari’ programs under the Indian G20 Chairmanship.
- Similar initiatives will be taken by bank and non-bank payment system operators. The Reserve Bank of India (RBI) has launched a program to adopt 75 villages and convert them into digital payment enabled villages.
- Under this initiative, Payment System Operators (PSOs) will adopt these villages across the country and organize two camps in each of these villages with an aim to increase awareness and engage merchants for digital payments.
- The RBI Governor said that India’s payment systems have evolved over the years and now there are many systems available to facilitate instant payments round the clock.
- Payment systems in the country have done more than 1000 crore transactions every month since December 2022.
- Talking about the Unified Payments Interface (UPI), which was launched in 2016, the RBI governor said that the UPI transaction volume is expected to increase from 0.45 crore in January 2017 to 804 crore in January 2023.
Source – Indian Express