PM Modi on Wednesday said that Digital Money would Make Online Payments More Secure and Risk-free and Boost Digital Economy in the Coming Years.
Prime Minister Narendra Modi on Wednesday made a strong pitch on digital currency launched by RBI. According to PM, the digital rupee, proposed in the Union Budget 2022-23, can be exchanged in cash and will bring new opportunities in the fintech sector.
“The digital money will revolutionize the fintech sector by creating new opportunities and reduce the burden of handling, printing, logistic managements of cash,” ─ PM Modi said.
According to the Prime Minister, the digital money system makes online payments more secure and risk-free and boosts the economy in the coming years.
Under the “Atmanirbhar Arthavyavastha’ (self-reliant economy), symposium organized by the government, PM Modi addressed the public that digital money will be in the form of physical money and will be regulated by RBI. In this system, digital money can be exchanged with physical money, and it will be completely secured for all. It will greatly impact India’s growth, from strengthening the Indian economy to providing new opportunities to Fintech companies and making more investments.
According to the Union Budget, the RBI is expected to launch the digital currency from the financial year 2022-23. It would be a great achievement for India to convert the physical currency to digital as it would bring several chances to grow and stand along with other fully developed countries. It will be the most secure medium of exchange. Everything that requires is awareness. It will become common in India as soon as it comes to the market for public use.