Raja Siddhi (23SOMBA21430) Adesara Nandini (23SOMBA21401)

NAME : RAJA SIDDHI
ADESARA NANDINI
ENROLLMENT NO. : 23SOMBA21430

23SOMBA21401
SUBJECT : FINANCIAL MANAGEMENT AND SERVICES
SUBJECT CODE : MBC222
STREAM : MBA-2 (A)
GUIDED BY : DHARA BHALODIYA
SUBMITTED FOR : CIE-2
SUBMITTED TO : SCHOOL OF MANAGEMENT, RK UNIVERSITY.

GOVERNMENT
INITIATIVES AND
POLICIES FOR
PROMOTING DIGITAL
FINANCE
What is digital finance?
Digital finance is the term used to describe the impact of new

technologies on the financial services industry. It includes a
variety of products, applications, processes and business
models that have transformed the traditional way of providing
banking and financial services.
Digital Payment
Mobile Banking
Components Online Lending
Digital Insurance
Investment Platforms
ADVANTAGE OF DIGITAL FINANCE
5
1 2 3 4 Focus on Creating
Cost Savings Transparency and Financial Inclusive Efficient Services
Security Inclusion Growth

DISADVANTAGE OF DIGITAL
FINANCE
1 2 3 4 5
Exclusion of
Privacy and Technological Digital Divide Infrastructure and Vulnerable Groups
Security Risks Barriers Connectivity Gaps
Pradhan Mantri Jan Dhan
Yojana (PMJDY)oblem
Pradhan Mantri Jan Dhan Yojana is a National Mission on Financial Inclusion which has
an integrated approach to bring about comprehensive financial inclusion and provide
banking services to all households in the country. The scheme ensures access to a range
of financial services like availability of basic savings bank account, access to need based
credit, remittances facility, insurance and pension.
Against the original target of opening bank accounts for 7.5 crore uncovered households in
the country by 26th January, 2015, banks have already opened 12.54 crore accounts as on
31st January 2015 after conducting survey of 21.06 crore households with deposits
exceeding Rs 10,000 crores. The target was set after conducting a survey of 21.02 crore
households in the country. Today, a coverage of almost 100% has been achieved. Out of
the accounts opened, 60% are in rural areas and 40% are in urban areas. Share of female
account holders is about 51%.
PRADHAN MANTRI JAN DHAN YOJANA
(PMJDY)
No charges for opening & Access to pension and micro

maintaining of account insurance Products
No minimum balance required to be 02 Facility of making digital payment

maintained in account 03
Free Rupay debit card Easy transfer of money across India
Additional Insurance cover Rs. 2

lakh (1 lakh for card issued to 06
OD upto Rs. 10,000 to eligible
account opened up to 20.08.2018)
04 account balance
On ruPay card
Beneficiaries of Government
Interest on deposit 05 schemes can get DBT in these
accounts
BHIM (Bharat Interface for
Money)
BHIM (Bharat Interface for Money) is an Indian mobile payment app developed
by the National Payments Corporation of India (NPCI), based on the Unified
Payments Interface (UPI). Launched on 30 December 2016, it is intended to
facilitate e-payments directly through banks and encourage cashless transactions.
It was named after Bhimrao Ambedkar.
The application supports all Indian banks which use UPI, which is built over the
Immediate Payment Service (IMPS) infrastructure and allows the user to
instantly transfer money between 170 member banks of any two parties. It can be
used on all mobile devices.
BHIM UPI
Send and Request Money Scan & Pay
Available in Multiple
Make Bill Payments
Language
Option to check Account

Safe Secure and free cost
Balance
Option to link RuPay

Effective Transactions
Credit Card
Tracking
Aadhaar Enabled Payment
System
AePS is a bank led model which allows online interoperable financial

inclusion transaction at PoS (MicroATM) through the Business
correspondent of any bank using the Aadhaar authentication.AePS allows
you to do six types of transactions.
The only inputs required for a customer to do a transaction under this
scenario are:-
• Bank Name
• Aadhaar Number
• Biometrics captured during enrolment
HOW TO USE AADHAAR ENABLED PAYMENT
SYSTEM?
Step 1
Visit the micro ATM of the banking
correspondent.
Step 2
Present the 12-digit unique identification code and
the bank’s name.
Step 3
Choose the transaction type according to
your preference.
Step 4
You must authenticate and verify via biometric
information such as fingerprints or iris scans
Step 5
Once the verification is done, you must
collect the receipt.
Insurance Regulatory and Development
Authority of India (IRDA)
Digital KYC E-insurance Account
Online Premium Payment Electronic Policy Document
Digital Insurance Repository

Online Policy Renewal
System (DIRS)
References
• https://pib.gov.in/FeaturesDeatils.aspx?NoteId=1
51163&ModuleId%20=%202
• https://www.nic.in/blogs/digital-payments-drivin
g-the-growth-of-digital-economy/
• https://fastercapital.com/topics/government-initi
atives-and-policies-for-promoting-financial-inclusi
on-through-technology.html
• https://sansad.in/getFile/loksabhaquestions/ann
ex/179/AU116.pdf?source=pqals
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NAME : RAJA SIDDHI

ENROLLMENT NO. : 23SOMBA21430

SUBJECT : FINANCIAL MANAGEMENT AND SERVICES

SUBJECT CODE : MBC222

STREAM : MBA-2 (A)

GUIDED BY : DHARA BHALODIYA

SUBMITTED FOR : CIE-2

SUBMITTED TO : SCHOOL OF MANAGEMENT, RK UNIVERSITY.

Digital finance is the term used to describe the impact of new

Components Online Lending

Security Inclusion Growth

No charges for opening & Access to pension and micro

No minimum balance required to be 02 Facility of making digital payment

Free Rupay debit card Easy transfer of money across India

Additional Insurance cover Rs. 2

Send and Request Money Scan & Pay

Option to check Account

Option to link RuPay

AePS is a bank led model which allows online interoperable financial

Digital KYC E-insurance Account

Online Premium Payment Electronic Policy Document

Digital Insurance Repository

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