The building blocks required to build such a platform are already available, given the robust ecosystem AadhaarMobile phones, UPI platform and Digilocker, he said, asked the banking industry to come up with innovative ideas and solutions in three months.
Vaishnav was speaking at the ‘Digital Payment Utsav’, which was part of a week-long showcase IndiaAchievements in the digital space titled ‘Digital Festival of Freedom’ in the capital.
Throwing a “challenge” at the bankers present in the audience, the minister said: “Can we make the UPI platform as powerful, seamless, good, digital as possible to provide very fast and easy credit to MSMEs, small industries, small scale industries.” I can build a platform. Businessmen…people are really at the bottom of the pyramid.”
The Minister expressed his desire to see the promising concepts brought out after three months, in response to the proposal submitted by him.
“Today you have a good ecosystem of Aadhaar, mobile phone, UPI platform, DigiLocker, practically everything you need to make this ecosystem available today. Take this challenge… Next three months Work on it, come back and I’ll be very happy to spend a whole day with you to see the concepts you bring,” Vaishnav said.
Talking to reporters on the sidelines of the programme, the Minister further said that the idea is to ensure that easy loans, on good terms, through a seamless process reach the people at the bottom of the pyramid, especially for micro and small scale industries, small businesses. be made available. Street vendors among others.