Indias fast-payment system, called the Unified Payments Interface (UPI) and run by the nonprofit National Payments Corporation of India, exemplifies how the regulator (for example, the central bank) and the regulated (for example, commercial banks) can together run a payment system as a voluntary digital public infrastructure that operates around the clock. – IMF
Digital India and Startup India missions of the Indian government have garnered a lot of praise both in domestic as well as international arena. It has helped in bridging the gap between the government and the citizens to a large extent.
The book Revolutionising Digital Space: Empowering Millions by Aparajita Gupta highlights the Indian governments Digital India and Startup India missions, which have given wings to several people and connected the remotest corners of the country to the world.
This book by the former Times of India journalist is a ready reckoner for any Digital India and Startup India enthusiast. It gives a fair idea of the Indian governments effort to digitally literate the country. Digital India initiative has been complemented by Startup India initiative.
India has the third-largest start-up ecosystem after the US and China. It is very refreshing to note that many of these start-ups are coming from small towns and rural areas. Indian healthcare-food delivery-education-renewable energy sectors are being revolutionised through the start-ups providing jobs and boosting the economy.
This book is a sort of a tribute to the two initiatives that have changed everyday lives of Indians.
Divided into four chapters, the first two chapters of the book delve into the Digital India mission while the latter two into Startup India Mission.
India has today emerged as the fastest-growing eco-system for fintech innovations. Indias digital payments revolution is being appreciated globally.
This was made possible due to innovative digital payment products like UPI and Aadhaar-Enabled Payment Systems (AEPS). When banks and ATMs were shut during the pandemic, AEPS-based micro-ATM at CSCs and post offices provided doorstep delivery of cash.
The governments contribution for digital payment transactions is a significant step towards achieving the goal of a cashless society. This allocation will help to increase the number of people who use digital payment methods, which will in turn help to reduce the dependence on cash transactions.
The book highlights how the Indian government is providing impetus to the young entrepreneurs helping them to offer various products and services.
