Union Minister for Parliamentary Affairs, Coal and Mines Prahlad Joshi has said that with more people adapting digital transactions, a saving of ₹1.75 lakh crore had been possible and the menace of middlemen had also been checked.
Flagging off the mobile banking services of KCC Bank in Dharwad on Saturday, Mr. Joshi said that digital transactions had benefitted all including farmers and traders in the country. “When Prime Minister Narendra Modi announced the introduction of digital economy, the opposition opposed it. Now, through the digital economy, the farmers and also beneficiaries of social welfare schemes are getting the amount directly credited to their bank accounts. The middlemen have shut their shops and people have reposed trust in the digital transactions,” he said.
Referring to data, Mr. Joshi said that the country had performed over ₹20 lakh crore digital transactions, which was 60% more than the digital transaction of China. He said that with the introduction of Jan Dhan accounts, 45 crore zero balance new bank accounts were opened and in these zero balance accounts, there were deposits to the tune of ₹1.65 lakh crore in the last seven years.
