Expressing his happiness with the initiatives of the Centre in the matter, President Mukherjee further said that it is necessary to reduce cash in circulation and impart greater urgency to promoting secure digital payment methods to ensure greater transparency.
"India is on the cusp of a digital revolution. More than one billion Indians have a unique identity number with a biometric identifier which is unique in its own way. Even countries which are technologically far more advanced than India with comparatively much smaller size population do not have such a system in place. The Aadhaar card initiative is a watershed event in the development story of India," he said.
Further noting that the Aadhaar enabled payment system has made digital payments possible for even those sections of the population who may not have mobile phones, President Mukherjee added that the Centre has enabled development of new modes of digital payments with the goal to make their use easy and seamless across providers.
"Launch of BHIM has demystified the digital payments and brought it within the grasp of every citizen," he added.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.