Tuesday, September 8, 2015

Should India unveil National eLitreacy Day?

          Today on the occasion of World Literacy Day, National Payments Corporation of India hosted ePayment Literacy workshops in 120 locations spread over India’s 28 states.

          The target audience was invited to this unique workshop by NPCI at 120 locations of 56 Regional Rural Banks.

          World Literacy Day is an important tool in UNESCOs armour to imbibe the spirit of learning in all parts of the world.

          Financial literacy is part of the overall literacy awareness. With finances being focussed on digital delivery, ePayment literacy is necessary to safeguard one’s finances.

          In this regard, NPCIs nationwide e-Payment Literacy Workshop on World Literacy Day is of great importance.

The focus of NPCIs first-of-its-kind ‘ePayments Literacy Workshop’ is on the retail digital transactions in our country.

Brief agenda of the ‘ePayments Literacy Workshop’:-
·       Familiarise participants with the various features available in ATMs apart from cash withdrawal viz: Balance Enquiry, Mini Statement enquiry, Pin Change, Funds Transfer
·       Familiarise participate with Security tips like mobile number registration, seeding Aadhaar with bank and LPG subsidy process.  

A ‘smart payments’ e-Book Manual has been launched by the hands of Shri Balachandran M, chairman, NPCI.

The booklet contains 136 basic, relevant and easy to understand processes and procedures through FAQs on ATM transactions,RuPay Debit Cards, PoS Usage, E-commerce transactions, IMPS (Immediate Payment Service), AEPS(Aadhaar Enabled Payment Service).

The FAQs have been divided into 5 sections based on combination of payment products and NPCI’s services like NFS (National Financial Switch), Debit Card, IMPS, AEPS and APBS (Aadhaar Payment Bridge System) which are meant to address the basic challenges faced by the consumers.

5 motivators to unveil National eLitreacy Day

01)  Focussed efforts of all participants to promote electronic  transactions
02) Increase awareness levels on safe eTransactions modes
03)  Increase stickiness of consumers to eTransactions
04)  Launch pad of new Apps, tools etc
05)  Award ceremony of associated Financial literacy programs in India

2 dates are in contention for National eLitreacy Day

Date 1: 26th March
Q: Why 26h March?
Ans: Live operations of RTGS commenced on March 26, 2004, which is a red-letter day in the history of the development of Systemically Important Payment Systems (SIPS) in the country.
The RTGS system has gone live with the participation of four banks— State Bank of India, HDFC Bank, Saraswat Co-operative Bank and Standard Chartered Bank. RBI, in addition to being the service provider, is also a participant in the RTGS system.

Date 2: 8th  September
Q: Why 8th September?
Ans: The first mass eLitreacy workshops held in India by NPCI on 8th September, 2015. 8th September is World Literacy Day too.