E-Wallets attains high adoption rates in rural India

- Advertisement -

As per the latest research by the Electronics and IT Ministry, more than 70 percent people residing in rural areas of India have adopted e-wallets as a payment method. Further, about 16 percent of rural citizens have surprisingly adopted UPI (Unified Payment Interface). Well, this can be entirely attributed to recent demonetization of Rs 500 and Rs 1000 notes which forced people to shift to digital payment methods while the country makes the transit.

E-Wallets, India

On the other hand, more than 85 percent of merchants have moved on to e-wallets for receiving payments whereas about 13 percent have gone for UPI, the statement further added. To be precise, Over 55,000 merchants have started offering digital payment options to rural customers across various districts and blocks in India.

- Advertisement -

Aruna Sundararajan, Secretary, Ministry of Electronics and IT in a statement said that the speed and scale at which digital transformation in taking place in India is paving the way for a digitally empowered, participative and inclusive society.

Further boasting about its efforts, Ministry claimed that under its Digital Payments awareness and training programme, Common Service Centre (CSC) network has enrolled over 25 lakh rural citizens for digital payments. Common Service Centre is an agency under Government of India which provides government service in rural areas. Laying out the plans for the future, the DigiDhan Abhiyan targets over 1 crore rural citizens for adopting Digital Payment methods. It plans to do so by setting up about 2 lakh CSC in rural and semi-urban areas.

Earlier this week on Monday, Telecom Regulatory Authority of India (TRAI) released a statement recommending a reasonable amount of free mobile internet to be provided to rural subscribers every month. The cost to provide this benefit will be balanced from government’s Universal Service Obligatory Fund (USOF) and the service would be further eased out by some third-party telecom service providers.

By Baishakhi Dutta

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

“Don’t Let Designations Become A Wild Goose Chase”

0
In his childhood, he possessed just one sweater, meant to last through many winters. He could not join IIT Roorkee because the cost of...

“Capitalise On ‘China Plus Two,’ Where Products With Higher Value Addition Become The Focus”

0
EPIC Foundation aims to transform India into an electronics hardware product nation by collaborating with governments, universities, design houses, and startups. In a conversation...

Exclusive: Electric Two And Three Wheelers In Focus For AMP 2030

0
It seems that the Indian government is going to focus on electric two— and three-wheelers. Taking these beyond Tier 1 and 2 Indian cities...

Buzz

solar panels

Tata Power Solar And Indian Bank Forge Partnership To Propel Residential Solar Adoption

0
This collaboration aims to facilitate easy access to financing for homeowners, setting the stage for a greener future. Tata Power Solar Systems Limited (TPSSL) has...

Honda plans major EV factory construction in Canada,

0
Honda's dedication to this facility reflects its wider ecological objectives, which include a target to only offer zero-emission vehicles by 2040 and to attain...

Scoop: Finayo Plans Rs 100 Cr Financing Fund For EV Dealerships

0
While EV finance is improving in Bharath (Tier 2, 3, 4 cities, and rural India), it is still one of the biggest challenges! Can...

Important Sectors

solar panels

Tata Power Solar And Indian Bank Forge Partnership To Propel Residential Solar Adoption

0
This collaboration aims to facilitate easy access to financing for homeowners, setting the stage for a greener future. Tata Power Solar Systems Limited (TPSSL) has...

Log 9 Enters EV Asset Management Via Amphion

0
Commercial electric vehicle asset management and finance is becoming one of India's biggest emerging business opportunities. Here's Log 9 joining the segment! Log 9 has...

Honda plans major EV factory construction in Canada,

0
Honda's dedication to this facility reflects its wider ecological objectives, which include a target to only offer zero-emission vehicles by 2040 and to attain...

Scoop: Finayo Plans Rs 100 Cr Financing Fund For EV Dealerships

0
While EV finance is improving in Bharath (Tier 2, 3, 4 cities, and rural India), it is still one of the biggest challenges! Can...

Macquarie Group To Invest $1.5 Billion In Indian Fleet Electrification With Vertelo Launch

0
Vertelo has entered into a long-term lease agreement with Tata Motors, committing to purchase up to 2000 electric cars within the next three years....

Manufacturing

Honda plans major EV factory construction in Canada,

0
Honda's dedication to this facility reflects its wider ecological objectives, which include a target to only offer zero-emission vehicles by 2040 and to attain...
Sona Comstar

Sona Comstar Launches Mexico Plant For North American EV Demand

0
The new facility, established to address the increasing demand for premium driveline solutions for BEVs in North America, will focus on manufacturing differential assemblies...

Sterling Tools Inks MoU With Yongin For EV Components Facility

0
Sterling Tools announced that this strategic partnership is anticipated to bring in Rs 250 crore in business over the next five years. This collaboration...

Tata Elxsi-Renesas MCU Boosts EV Cost Efficiency And Market Speed

0
The Motor Control Unit's modular, scalable design facilitates integration across various EV applications, reducing time to market by 40%, lowering design and development costs...

Ramkrishna Forgings To Supply Powertrain Parts To Top US Electric Carmaker

0
Indian producer of rolled, forged, and machined products enter the US electric vehicle market for the first time. Ramkrishna Forgings, an Indian supplier of rolled,...