Last Updated:
On digital payments, PM Modi says, ‘Today, in just thirty seconds, I can directly transfer money into the accounts of 100 million farmers. Today, I can send subsidy to 130 million cylinder consumers with just one click in 30 seconds.’
PM speaks on the podcast People With The Prime Minister Shri Narendra Modi x Nikhil Kamath | By WTF. (Image: Screengrab)
The Unified Payment Interface (UPI) is a marvel for the whole world. When guests from around the world come, they ask how UPI works, said Prime Minister Narendra Modi during a podcast hosted by Zerodha co-founder Nikhil Kamath. PM Modi also said India has presented an example to the world as to how technology is democratised in the world of fintech.
In the podcast, titled ‘People with The Prime Minister Shri Narendra Modi x Nikhil Kamath, By WTF’, which was aired on Friday, the prime minister said he created a separate fund for innovation. The youth should take risks. They should feel that even if he fails, there is someone to take care of him.
On digital payments, PM Modi said, “Today, in just thirty seconds, I can directly transfer money into the accounts of 100 million farmers. Today, I can send subsidy to 130 million cylinder consumers with just one click in 30 seconds. Why did Jan Dhan account come into existence? Because billions that were being siphoned out due to corruption are now saved. And, technology has been used efficiently. Now, look at UPI. It is a marvel for the whole world. When guests from around the world come, they ask how UPI works. I tell them to visit any vendor.”
He also said how technology is democratised in the world of fintech, India has presented this example to the world. Today, the youth is able to do wonders by possessing a mobile phone. And, the youth will remember, that there was once a government that made the whole world fit into my pocket, in my mobile phone.
“This is a technology-dominant century,” the prime minister said.
He also said the country has made a commission for separate innovation. “I have created a separate fund for innovation. The youth should take risks.
They should feel that even if he fails, they will not die hungry. Someone will take care of him.”
