Revolutionizing Transactions: Indian Railways' Potential to Contribute 7 Crores UPI Transactions - Day 29 of PM Modi's 30 Days UPI Challenge

-

 

Day 29 of PM Modi's 30 Days UPI Challenge 🚆 highlights the immense potential of the Indian Railways in contributing to everyday digital transactions.

Envisioned as a crucial step in India's digital transformation, the challenge aims to leverage the vast reach of the railways for fostering Safe Digital Transactions practices. 📱💳

 


With India possessing the world's 4th largest railway system, spanning 126,366 km and comprising 7,335 stations, the potential for digital transactions is substantial.

The railways operate 13,523 passenger and 9,146 freight trains daily, making it the single largest employer in India and the 8th largest globally.

🌐🚄 A staggering 2.40 crore passengers travel daily through these trains, encompassing various types like mail, express, and passenger trains. 🚇👥

 

The Circle of Influence for digital transactions in railway stations extends beyond the immediate boarding radius to cover the entire journey duration.

This vast circle includes both direct passengers and indirect participants, such as family, friends, support staff, and last-mile connectors.

If each person associated with the railway system engages in four UPI transactions daily, the railways could contribute 7 crores or 70 million UPI transactions every day. 🔄💸

 

The Passenger Reservation System (PRS) and the New Generation e-Ticketing System (NGeT) by IRCTC have played pivotal roles in revolutionizing ticket booking. NGeT, commissioned in 2014, can book over 26,000 tickets in a minute.

IRCTC's online platforms witness 11.30 lakh daily bookings, constituting 80.42% of total served tickets. 📅🎫

 

Mobile technologies are central to unreserved ticketing, enabling passengers to book tickets through phones and receive paperless tickets embedded with QR codes.

Integration with Maharashtra Govt. EPASS validates Covid vaccination certificates, ensuring travel restrictions for unvaccinated passengers. 📲✅

 

The Minister of Railways, Shri Ashwini Vaishnaw, well-versed with digital transactions, adds a positive dimension.

The entire range of UPI modes, including UPI LITE, UPI Tap N Pay, UPI Credit Card, and regular UPI, supports railway passengers in their digital journey. 🚉💡

 

Over its 160-year history, Indian Railways has driven significant change, connecting communities and markets.

The railways have embraced technological advancements while maintaining a steadfast commitment to being a socio-economic lifeline.

The mix of short and long journeys, including unreserved compartments, brings in a diverse range of passengers, further expanding the scope for digital transactions. 🔄🌍

 

Ticket booking reforms, introduced as part of the digital initiative, provide multiple options, including digital ones.

The Next Generation e-Ticketing system launched in 2014 has significantly enhanced booking capacity.

Mobile ticketing apps like IRCTC Rail Connect contribute significantly to online bookings. 📈📱

 

Initiatives like the integration of UPI and mobile wallets, free WiFi at railway stations, SMS-based alerts, and Wakeup Call-Destination Alert Facility demonstrate the railways' commitment to enhancing passenger convenience through digital means. 🆓📡

 

This digital push not only ensures transparency and prevents overcharging but also positions the Indian Railways as a passenger-friendly entity offering diverse payment options.

As the 30 UPI Challenge nears its end, the focus on leveraging the railways for SafeePay practices remains a transformative goal. 🛤️💰

Disclaimer: The railway data is gathered from diverse sources, and any inaccuracies are my sole responsibility. The goal is to enhance UPI Transactions universally—no more, no less.

**Paving the Way for Safe ePayments: Declaring Safe ePayDay! ** 🚀

In the vast realm of digital transactions, the spotlight is now on declaring a special day — Safe ePayDay / Safe ePayments Day! 💳✨

 

🚀 The countdown has begun, and the day is fast approaching when we'll join together in a global celebration of Safe ePayDay.

🌍✨ Imagine a day dedicated to promoting secure, seamless, and responsible electronic transactions, uniting individuals, and businesses alike.

 

Stay tuned for the momentous occasion when we collectively recognize and applaud the significance of secure ePayments in shaping a trustworthy financial landscape. 🎉💼

Let's usher in the era of Safe ePayDay, a day where we celebrate the reliability and resilience of electronic payment systems worldwide! 🌐💳 #SafeePayDay #DigitalTrust #SecureTransactions 🚀

 

 

📢 Disclaimer: These are my personal views only.

🌐 The focus is declaring a Day as Safe ePayDay / Safe ePayments Day.

🚀 Yes, the day is not far off when there will be a celebration of Safe ePayDay / Safe ePayments Day.

Copyrights if any, belong to the original copyright holder only.

 

Additional Readings:

💳✨ Happy RuPay Credit Card User Shares Positive Vibes! ✨💳** @ https://prashantnepayments.blogspot.com/2023/11/happy-rupay-credit-card-user-shares.html

PM Modi Urges Exclusive Use of UPI on Mann Ki Baat: A Month Dedicated to Digital Payments @

https://prashantnepayments.blogspot.com/2023/11/pm-modi-urges-exclusive-use-of-upi-on.html

 

 

 

Comments

Post a Comment

Popular posts from this blog

CERTIFICATE EXAMINATION IN INTERNATIONAL TRADE FINANCE

-
Image
          This certification is essential for all members of a Bank Trade Finance Department.   The syllabus covers key aspects required by team members to effectively discharge their duties. Trade Finance is one of the traditional forms of bank finance in India. In view of reforms and liberalisation, this has gained a new significance.   Many of the practices in trade finance have evolved over a period of time and some are guided by Ministry of Commerce and Reserve Bank of India, besides WTO and International Chamber of Commerce through UCPDC 600. With the increase in the volume of trade both domestically and internationally, there is a need for trade finance professionals from banks as well as corporates. The Objectives of this IIBF Examination is as under:   (i) To provide candidates with competencies required to function as trade finance practitioners. (ii) To enable candidates to possess the needed skill and knowledge to understand clients' needs
Read more

IIBF-Certificate Examination in Foreign Exchange Facilities for Individuals

-
          The primary objective this IIBF course is to make the branch officials familiar with the FEMA provisions that impact their day to day functioning at the branch level.     This exam is being introduced pursuant to the recommendation of a committee of RBI.           Normally foreign exchange transactions pertaining to individuals are handled at branches only and are not referred to specialised forex cells.           The course covers ‘Foreign Exchange Facilities for individuals under FEMA1999’ RBIs FAQs’ on Forex Facilities for Residents (Individuals) (updated up to November 21, 2014) For full details refer to Reserve Bank of India website: Introduction : The legal framework for administration of foreign exchange transactions in India is provided by the Foreign Exchange Management Act, 1999. Under the Foreign Exchange Management Act, 1999 (FEMA), which came into force with effect from June 1, 2000, all transactions involving forei
Read more

Feedback on BB-Instant Vending Machines customer review_ “while login (maximum account limit reached for this number) problem”

-
Image
          Office goers in Bengaluru, Hyderabad and Noida along with apartment dwellers in Bengaluru, Hyderabad and Noida are doing a bit of their daily shopping through BB-Instant Vending Machines.           Vending machines in India are still a novelty and most of the vending machines expect hard physical cash to dispense the goods.           Fortunately, BB-Instant Vending Machine is 100% Digital Transaction based. The below issue is reported by quite few users while downloading BB-Instant App QUOTE Customer feedback:: my problem still not solved, I have tried to solve my error message while login (maximum account limit reached for this number) problem but you people cannot fix it infact you are saying to change my mobile number, you think for your stupid error I'm going to change my number. Standard BB-Instant Customer Team Response: Bigbasket.com2 July 2019 We are very sorry to have you disappointed, kindly share us your details at appsupport@bi
Read more