New Delhi, Sep 8: 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.
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”.
Put simply, Digital Public Infrastructure (DPI) refers to blocks or platforms such as digital identification, payment infrastructure and data exchange solutions that help countries deliver essential services to their people, empowering citizens and improving lives by enabling digital inclusion.
DPIs are interoperable, open, and inclusive systems supported by technology and provide essential, society-wide, public and private services that play a critical role in accelerating this digital transformation in an inclusive manner.
The document also cites India’s Data Empowerment and Protection Architecture (DEPA) and India’s Account Aggregator (AA) Framework. (PTI)
