Speaking at the ministry of electronics and information technology’s Digital Payments Utsav, Vaishnaw said that the integration of the two technologies would enable people to send money with far greater ease in their local language.
The government will also focus on complete rollout of the digital credit system within the next 10-12 months, Vaishnaw said.
“The focus will be to ensure how even the smallest of merchants, daily hawkers in small towns and villages are able to get credit for their business and other works from the biggest of banks. There has been ample thinking on this idea. Now is the time to implement the plan,” Vaishnaw said.
In 2022, the government had launched an artificial intelligence-enabled platform to help translate the local languages and dialects of India for better understanding and to create a library of these languages.
Meanwhile, travellers coming to India will soon be able to use Unified Payments Interface (UPI) for retail payments in the country.
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To start with, this facility will be extended to travellers from the G-20 countries, arriving at select international airports. Going forward, this facility will be enabled across all other entry points in the country. Necessary operational instructions will be issued shortly.The Group of Twenty (G-20) comprises 19 countries (Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom and United States) and the European Union.
RBI will also launch a pilot project on QR Code based Coin Vending Machine (QCVM) in 12 cities in the country.
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