Page 28 - NIS English December16-31

Cover Story
Economy

DIGITAL ECONOMY
Promoting a culture of
honesty and transparency

The decision of demonetisation in 2016 FEATURES OF BHIM APP
l It works on all kinds of phones
by Prime Minister Narendra Modi has l Connected with 189 banks
not only checked black money but is l Availability for 24 hours
also proving to be a milestone for the l Much easier payment
nation’s growth. It created a very efficient l Available in 20 languages
infrastructure of digital transactions l Works on all QR codes
l Can be linked to more than 10
through various Apps facilitated by banks
Unified Payments Interface (UPI).

fter demonetisation, the BHIM APP: THE NEW BANK
AGovernment made the BHIM App IN YOUR POCKET
the basis of digital transactions, as HIM App has become the new wealth status
a result of which the entire country Bof your mobile phone. The Prime Minister said
is witnessing a culture of digital from the ramparts of the Red Fort on Independence
transactions today. The way digital Day, “You can see how fast the online digital
transactions reached their record transactions are increasing. Look at BHIM UPI
levels in the Corona pandemic period App…" Anyone would be immensely proud to know
show that the foundation laid four that UPI transactions have crossed to Rs 3.90
years ago is now ready to take country Lakh Crore in November alone through BHIM UPI.
to an advanced level of growth. This is an excellent example of how people have
As Prime Minister Narendra Modi accepted the changing scenarios. More than 221
says, “the whole world is moving Crore transactions have been done in the month of
towards a cashless society. You can November through the UPI-BHIM App, which is the
get as well as give money through highest ever transaction with a total of Rs 3,86,000
electronic system. You can buy things Crore. If compared to the previous year, even after
and pay the bills. In the beginning, it the restrictions of Corona, the transaction through
may be difficult, but as it becomes the BHIM App has increased by more than 80 per cent.
habit, it will be much simpler. "

aim is to make India a favourable destination for Earlier, it was not produced in India but during
investment in the world through its competitive Corona, Prime Minister Narendra Modi took the
edge. This will not only create a competetive initiative. In just two months of lockdown, India
environment in the manufacturing sector across became the second largest producer of PPE kits
the world but generate employment. in the world.
Certainly, India has the best talent in the
THE TURNAROUND IN DOMESTIC world. This is the reason why all the countries
PRODUCTION and rating agencies of the world are forced to
India has shown the world that through grit and say that in the coming years, India's economy
determination one could see the turnaround in the will not only return to the pre-COVID stage
growth. The biggest example of it is the production but is going to be the world's fastest growing
of personal protective equipment (PPE) kits. economy.

26 New India Samachar