Project on Digital India Class 12

Class 12 Powerpoint on Digital India. Subject: Economics

1. Ankush Mondal XII-C 4

2. Acknowledgement Certificate Synopsis Introduction Objectives Discussion of objectives Data Collection Research Problems Conclusion Bibliography INDEX

3. I would like to express my special thanks of gratitude to my Economics teacher Mrs.Sunita Mohanty as well as our principal Mr. Abhijit Saha who gave me the excellent opportunity to do this wonderful project on the topic DIGITAL INDIA They have helped me in doing a lot of Research and I came to know about so many new things. Secondly, I would also like to thank my parents and friends who helped me a lot in finalizing this project within the limited period Acknowledgement

4. This is to certify that ANKUSH MONDAL Of Class XII-C (Commerce) Of KENDRIYA VIDYALAYA NO 2 ISHAPORE Has completed His Project Under the Guidance of MRS. SUNITA MOHANTY (PGT-Economics) This is to certify that This Project is Upto my expectation and As per the guidelines issued By CBSE ( Central Board of SecondarY Education ) CERTIFICATE

5. Digital India  is a campaign launched by the  Government of India  in order to ensure the Government's services are made available to citizens electronically by improved online infrastructure and by increasing Internet connectivity or making the country digitally empowered in the field of technology. It was launched in 1 st July 2015 By Prime Minister Narendra Modi SYNOPSIS

6. Digital India mainly focuses on: 1) Providing digital infrastructure as a source of utility to every citizen. 2) Governance and services on demand. 3) To look after the digital empowerment of every citizen. Digital India was established with a vision of inclusive growth in areas of electronic services, products, manufacturing, and job opportunities.

7. The Silent Revolution – The Payment System have Been evolving and changes have been continuous over the last 35 Years , it has rarely got noticed as a revolutionary change. When people or businesses enter into economic transactions, i.e buy and sell goods and services, the value thereof needs to be.The ‘money’ was in Early days the precious metals like gold and silver. Later the governments issued coins made of these precious metals as money ; still later , the paper money , the currency became the norm as the Money. Thus people settled their Economic Transaction by paying in currency notes and coins. As the banking system evolved , it becomes easier , safe and even remunerative to keep one’s money in a bank account and became still more easier and safe to use ‘transfer of money in bank accounts‘ for making payments for the economic transactions. This was more so for large Value Transaction. Actually it is now used equally for effecting low value transactions also.

8. For Effecting This transfer of money in the bank accounts, a payment instrument was needed to instruct the bank to effect that transfer. This instrument was the ‘ cheque ’ for a very long period. Thus a system consisting of the cheque as the payment Instruments and an infrastructure around the cheque consisting of the drawer bank, the drawer bank and the cheque clearing house came on the sense and were known as Payment System

9. Today we can boost Of a strong Retail payments framework in the country comparable to that of any advanced country Perhaps even better that some of them in terms of The variety and efficiency. Various types of payment instruments exist to meet the requirements of different users in different circumstances- bank accounts , cheques , debit and credit cards, prepaid payment instruments etc. There are various systems to meet the remittance requirements of users depending upon their time critically and cost sensitivity – National Electronic fund transfer (NEFT) , Immediate Payment services (IMPS), Aadhaar Enabled Payment system (AEPS) and recently Unified payments interface. The need for making bulk and repetitive payments is met by systems such as Electronic Clearing service (ECS), National automated Clearing house (NACH) and Aadhaar payment bridge system (APBS)

10. To study Role of digital India in Rural Areas To study Types of digital payment methods To study the Role of mobile in India going cashless To study Challenges with going cashless To study Pros and Cons of going digital Objectives

11. Digital India programme has launched many schemes that focuses on the empowerment of rural entrepreneurs of India. One of such schemes is enhancing Rural Entrepreneurship through Common Services Centres (CSCs).Rural entrepreneurs can get loan for setting up their CSCs under the Micro Units Development and Refinance Agency (MUDRA) Yojana . CSCs are information and communications technology enabled service delivery points at the village level for delivery of government, financial, social and private services such as applying online passports, land record, digital locker and Aadhaar cards. Those who want to start such service points but do not have funds can start their micro-ventures by taking loans under MUDRA Yojana . Role of digital India in Rural Areas

12. Another scheme for promoting rural entrepreneurship under Digitial India Programme is through Internet Kiosks. Internet Kiosk is a kiosk with one or more computers, a tablet, Internet connection, with a web cam that can be the set up in villages to be used as the hub of rural connectivity for providing education and training, information about agriculture and health care, employment news and market information. These cyber-kiosks can be run by local entrepreneurs thereby empowering the rural entrepreneurship.

13. RTGS/NEFT It is one of the simplest method of cashless transactions It is very safe option for online money transfer, you need internet banking facility. Online transfer using NEFT and RTGS is comparatively faster than cheque and DD.In this method transfer can be made from anywhere using internet facility Types of digital payment methods

14. Banking cards offer the consumers more security, control and convenience than other methods. The various cards like credit,debit , prepaid offer flexibility and provide 2 factor authentication for secure payments e.g - secure pin and OTP. RuPay,Visa etc.are some card payment system. They give people the power to purchase items in stores,on internet, through mail order catalogue and over the telephones. BANKING CARDS

15. PoS terminals are installed in shops or stores where payments for purchases can be done through debit and credit cards. There are variations of PoS , one which can be Physical PoS and the other one is mobile PoS. The mobile PoS does away with the need of maintaining a physical device POS(Point of Sales)

16. Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank ),merging several bank features, seamless funding routing and merchant payments into one hood.It also caters to the “peer to peer” Collect request.Each bank Provides its own UPI Apps for Android,Windows And IOS platforms. Unified Payment Interface (UPI)

17. NPCI is an umbrella organisation for operating retail payment and settlement systems in India, it is an initiative of reserve Bank of India(RBI) and Indian banks’ Association (IBA) under the provisions of the payment and settlement systems Act,2007, for creating a robust Payment and settlement Infrastructure in India. Considering the utility nature of the objects of NPCI, it has been incorporated as a “Not for profit company under the provisions of section 25 of companies act 1956 with an intention to provide infrastructure to entire banking system in India for physical as well as Electronic payment and settlement systems NATIONAL PAYMENT CORPORATION OF INDIA (NPCI)

18. Cyber security: Media reports have indicated cyber security attacks in few banks’ systems, including in ATM transaction processing systems. With growing Dependence on online delivery of services, this becomes a serious concern and a area that has to be strengthened immediately and continuously as it also has the greatest potential to diminish the trust in electronic payments FRAUDS: While we have secured the safety Of transactions through use of additional authentication factors, fraudsters have been exploiting other weaknesses in customers to defraud them. For instance, There have been increasing number of social engineering and vishing frauds luring customers to part with their confidential bank account/card particulars . Challenges with going cashless

19. Customer Awareness: Even as we strengthen the systems and processes, perhaps the greatest tool to fight the menace of Frauds is building customer awarenes . In addition, an ‘aware’ customer is able to make the right choices in using different systems taking into account the time critically of the payment, the cost aspects and the risk aspect of exposing the underlying payment instrument Customer Protection: Hand in hand with customer awarenes goes the aspect of customer Protection and efficiency in dealing with customer complaints/grievances. Earlier, generally end to end payment services used to be offered by banks. Today’s electronic payments are, However, made more complex with participation of other non-bank entities whose services may be used by banks in the form of outsourcing arrangements or through entities that offer specialised services integral to payment completion.

20. Pros and Cons of going digital

21. Convenience: The Ease conducting financial transactions is probably the biggest motivator to go digital. You will no longer Need to Carry wads of cash, plastic cards,etc . It is safe and easy to spend while travelling. The benefits are enormous if we leave out the low-income group, which will face a huge challenge. For rest of the country, it is simple and constructive. You have the freedom to transact whenever and wherever you want Convenient PoS Machine: Earlier the PoS Machines were scaring small merchants with their bulky Size And cost of payment but now they are not just affordable And smaller but also come with monthly charges. They can now run smoothly on low speed internet connections which were also one of the problems Earlier Pros:

22. Budget Discipline: The written records will help you to keep tabs on your spending and this will result in better budgeting. Various apps and tools will help people in analyzing their spending patterns and throw up good insights over a couple of years. Controlled spending could also result in higher investing Travelling Convinience : Gone are the days when we had to carry large amounts of cash during any outstation travel. Today, retailers all over the country have understood the importance of going cashless and have started accepting digital payments.Thus , elders can now easily travel to and from other cities in India, without having to worry about finding an ATM or running out of cash.

23. HIGHER RISK OF IDENTIFYING THEFT : With rising incidents of online fraud, the risk of hacking will only grow . Another weak link is the inadequate reprisal mechanism Loopholes for stealing: The non- trch savvy will be vulnerable even if they start using the e transactions to pay and transfer services being offered by Paytm , digital wallets etc. These people will not be very aware about logging out and not saving their passwords here and there. A large part of our nation is uneducated And everyone will not be comfortable with the e- transactions Limited internet access: Not everyone has a 4G smartphone supporting high speed internet services to console their transactions on high speed internet. It is not very difficult to see that vendors and masonry workers wil not be able to afford data packs to support cashless transactions. CONS:

24. DATA COLLECTION: Primary Sources: 1)Consumer survey on Digital India Secondary Sources: 1)S tudy Reports from Internet 2)Articles in newspapers and articles

25. Some Peoples ignored Answer few questions During Data Collection The lack of time to Carry out survey It involved a lot of time consumption For analysing each data It was difficult for the people who were less educated To Respond RESEARCH PROBLEMS

26. Most of the people are aware Of digital India. From the survey we have concluded That the digital India project definitely uplift the standard of living. People want to live in digitalised city As it will provide better lifestyle through digital Services.Rural area people will also Be able to adopt The digital changes only if Govt of India Will provide The proper training and digital literacy.without a proper Training it will be difficult for the Indians to adopt the digital changes in India. Digital India will be providing lots of job opportunities and help in reducing Unemployment from the country. Service sector will also undergo vast Change as people will able to Get work done Digitally. Time taken for each task will be reduced. People Have lot of expectations from this project. Goverment of India has to stand upto the Expectations CONCLUSION

27. BIBLIOGRAPHY Books: S ahoo Niranjan and LohaNa R. Sarika – Demonitizatiom digital India and governance Articles : I ndia’s digital transformation ,The Hindu by Kaushik Basu Websites: 1)www.business-standard.com 2) Cashless society.org 3) economictimes.india times 4)livemint.com 5)moneyexcel.gov.in 6)wikipedia.org

28. THANK YOU!