INDIA'S DIGITAL INFRASTRUCTURE EARNS PRAISE FROM WORLD BANK FOR TRANSFORMATIVE IMPACT

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

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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.

India’s digital ID system Aadhaar, digital payment system UPI, data-exchange platform Digilocker and its other showcase platforms have found a special mention among the examples of DPIs ‘all of which play a leading role in the advancement of financial inclusion in many countries’.