World Bank’s G20 document on India’s DPI testament to rapid progress and innovation: Modi

INTERNATIONAL DESK: Prime Minister Narendra Modi on Friday cited a G20 report prepared by the World Bank to highlight that India has achieved in just six years financial inclusion targets that would otherwise have taken at least 47 long years. “India’s leap in financial inclusion, powered by Digital Public Infrastructure! A G20 document prepared by the World Bank shared a very interest point on India’s growth,” he said on X.

“India has achieved financial inclusion targets in just 6 years which would otherwise have taken at least 47 long years. Compliments to our robust digital payment infrastructure and the spirit of our people. It is equally a testament to rapid progress and innovation,” he said.

Home Minister Amit Shah said the report acknowledges that the robust Jan Dhan, Aadhaar and mobile trinity infrastructure built by the Modi government has empowered millions.

“The report also highlights that our country has saved USD 33 billion through the DBT system. Every rupee saved by our nation is a step toward our goal of becoming a fully developed nation during the Amrit Kaal,” he said, sharing a report.

Advocating DPI’s potential in helping nations leapfrog digital transformation, the G20 document prepared by the World Bank has praised India’s approach in unlocking the power of digital public infrastructure, including Aadhaar and UPI, for financial inclusion.

The impact of DPI goes beyond inclusive finance, to supporting health, education, and sustainability, says the foreward of the document ‘G20 policy recommendations for advancing financial inclusion and productivity gains through DPI’.

“The India stack exemplifies this approach, combining digital ID, interoperable payments, a digital credentials ledger, and account aggregation. In just six years, it has achieved a remarkable 80 per cent financial inclusion rate – a feat that would have taken nearly five decades without a DPI approach,” it said. (TOI)