Union Finance Minister Nirmala Sitharaman in her budget announcement proposed to set up 75 digital banking units in 75 districts to increase the adoption of digital payments and digital banking services.
“In recent years, digital banking, digital payments and FinTech innovations have grown at a rapid pace in the country. Government is continuously encouraging these sectors to ensure that the benefits of digital banking reach every new nook and corner of the country in a consumer friendly manner,” Sitharaman said.
Finance Minister Sitharaman believes that the initiatives will encourage further adoption of digital payments and focus on promotion of use of payment platforms which are economical and user friendly.
Further the FM said financial support for digital payments ecosystem announced in earlier budget will continue in the year 2022-23. In 2021 Budget announcement, FM had then announced Rs 1,500 crore to MeitY for the promotion of digital payments.
