Before G20, World Bank praised India, said- 50 years' work done in 6 years

The World Bank has praised India fiercely through a document just before the G20 meeting. The World Bank has praised things like India's UPI, Jan Dhan, Aadhaar, ONDC and Covin.

The World Bank has praised India highly before the G20. In a document prepared before the G20, the World Bank said that the impact of India's digital public infrastructure (DPI) is more than financial inclusion. Praising India in the document, the World Bank said that under the leadership of Prime Minister Modi, the country has achieved what no one could in the last five decades. PM Modi said that India has done the work of 50 years in 6 years. Which can change lives around the world. This includes things like UPI, Jan Dhan, Aadhaar, ONDC and Covin.

India's leap in financial inclusion, powered by Digital Public Infrastructure!

A G20 document prepared by the @WorldBank shared a very interest point on India's growth. India has achieved financial inclusion targets in just 6 years which would otherwise have taken at least 47…

— Narendra Modi (@narendramodi) September 8, 2023

India's digital infrastructure strong

In the World Bank document prepared before the G20 summit, the World Bank has worked to give shape to the digital public infrastructure launched by the Modi government. The World Bank said that the JAM (Jan Dhan, Aadhaar, Mobile) trinity – bank accounts for all, Aadhaar and mobile connectivity has benefited many. The financial inclusion rate has increased from 25% in 2008 to more than 80% in the last six years, which has come down to 47 years due to DPI.

Women benefited from Jan Dhan

Narendra Modi had started Jan Dhan Yojana since its launch in 2014. After which the number of PM Jan Dhan Yojana accounts has increased from 14.72 crore to 46.2 crore by June 2022. 56% of these accounts are women, which is more than 26 crores.

Connection with banks

PMJDY has brought the unbanked into the banking system. Apart from this, UPI has given a boost to the country's economy. UPI also has an important contribution in taking the country forward. UPI payment method has become very popular for retail digital payments in India, and its use is increasing rapidly.

Other countries also benefit

One of the important thrust of the Government of India has been to ensure that the benefit of UPI is not only limited to India but other countries can also benefit from it. So far, Sri Lanka, France, UAE and Singapore have joined hands with India on emerging fintech and payment solutions.