New Delhi: The Reserve Bank of India (RBI) will showcase its digital payments infrastructure at the upcoming G20 summit, with a focus on central bank digital currency (CBDC) and public tech platforms. The RBI exhibition pavilion will display five major items, including the Public Tech Platform (PTP) for frictionless credit.
RBI’s Experience Centre
An experience centre would be available for the delegates where one can experience an interactive demonstration of the entire process i.e., from onboarding to sanction and disbursement of the Kisan Credit Cards (KCCs) and dairy loans in an entirely digital manner in a few minutes, revolutionising rural credit, sources said.
It will be showcasing an informational video on the RBI’s digital rupee and its journey. The live digital rupee transactions will be demonstrated by select banks which are participating in the pilot, said sources.
Digital Payments Initiatives Will Also Be Showcased
Apart from this, digital payments initiatives will also be showcased, highlighting UPI One World – where visitors will be on boarded to UPI without having a bank account in India and they will benefit in the process to have a first-hand experience of breezing payments through UPI. Also the RuPay On-The-Go segment of the pavilion would allow customers to carry out contactless payment transactions through accessories they wear (watch, ring) or use (key chain) every day and highlight the adaptability of the domestic card scheme associated products at par with such global products.
Bharat Bill Payment System (BBPS) Of RBI
Finally under the Bharat Bill Payment System ((BBPS), it will highlight the adaptability of the BBPS platform to integrate with FinTechs and conventional financial players to facilitate domestic as well as cross-border payment transactions, RBI sources said.
Delhi Prepares For G20 2023
In a separate incidence, Delhi government has issued a notification of the restrictions that will be imposed in the national capital from September 9 to 10, 2023, during the G20 Summit. The summit will be held at the Bharat Mandapam International Exhibition-Convention Centre (IECC) in New Delhi and will be attended by the leaders of 20 nations.
Delhi Starts Witnessing G20 Impact
The areas that saw the most cumbersome scenes include the Outer Ring Road near Indraprastha Park, the C-Hexagon, and Sardar Patel Marg among other spots that witnessed heavy traffic congestion as vehicles were stuck on these road stretches for several kilometres.
(With inputs from agencies)
from Latest News, Breaking News, LIVE News, Top News Headlines, Viral Video, Cricket LIVE, Sports, Entertainment, Business, Health, Lifestyle and Utility News | India.Com https://ift.tt/wsUARyd