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Digitally Inclusive Bharat
May 14 , 2021
1217 days
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- NITI Aayog and Mastercard released a report titled ‘Connected Commerce: Creating a Roadmap for a Digitally Inclusive Bharat’.
- The report identifies challenges in accelerating digital financial inclusion in India.
- It provides recommendations for making digital services accessible to its 1.3 billion citizens.
Key recommendations
- Strengthening the payment infrastructure to promote a level playing field for NBFCs and banks.
- Digitizing registration and compliance processes and diversifying credit sources to enable growth opportunities for MSMEs.
- Building information sharing systems and ensuring that online digital commerce platforms carry warnings to alert consumers to the risk of frauds.
- Enabling agricultural NBFCs to access low-cost capital and deploy a ‘phygital’ (physical + digital) model for achieving better long-term digital outcomes.
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