World Bank lauds transformative impact of Digital Public Infrastructure created in India over past decade

World Bank lauds transformative impact of Digital Public Infrastructure created in India over past decade

• The G20 Global Partnership for Financial Inclusion document prepared by World Bank has lauded the transformative impact of Digital Public Infrastructure DPIs in India over the past decade. DPI has a transformative impact on India, extending far beyond inclusive finance. On Financial Inclusion, lauding India’s DPI approach the World Bank document notes that India has achieved in just six years what would have taken about five decades.
• The document highlighted the groundbreaking measures taken by Modi government and the pivotal role of government policy and regulation in shaping the DPI landscape. It said, Jandhan-Aadhar-Mobile JAM Trinity has propelled financial inclusion rate from 25 per cent in 2008 to over 80 percent of adults in last six years, a journey shortened by up to 47 years, thanks to DPIs.
• The document categorically notes that while DPIs’ role in this leapfrogging is undoubtable, other ecosystem variables and policies that build on the availability of DPIs were critical.

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Published date : 08 Sep 2023 03:36PM