Mumbai: Pitching for increased digital payment modes, including adopting Unified Payment Interface (UPI), Sitharaman urged banks to discourage non-digital payments as much as possible.
Addressing the 73rd annual general meeting of the Indian Banks” Association (IBA), she also said that banks should ideally make sure that all accounts are linked with Aadhaar number of respective customers by December. If it is not complete, then the linking should be done by March 31, 2021.
Against the backdrop of entities pushing for digital and contactless payment options, especially amid the coronavirus pandemic, Sitharaman said that when RuPay is becoming global, she would not think of giving any card, other than RuPay, to Indians.
RuPay is a payment card launched by NPCI, an umbrella organisation for operating retail payment and settlement systems in the country.
“I would not think it is necessary today in India when RuPay is becoming global, for Indians to be given any other cards first than RuPay itself. So, promote Rupay cards. Make sure that the NPCI becomes a brand-India product which can be promoted elsewhere in the globe and NPCI therefore should be a priority,” Sitharaman said.
The minister’s remarks also come at a time when the government is encouraging activities revolving around Aatmanirbhar Bharat (self-reliance).
As much as possible, the minister said that banks should discourage non-digital payments and should bank on promotion of digital payment techniques as well as adopt many of the UPI (Unified Payments Interface)-driven payments.
