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‘Connected Commerce: Creating a Roadmap for a Digitally Inclusive Bharat’

Published on May 11, 2021
Current Context: The NITI Aayog in collaboration with Mastercard has released the report titled ‘Connected Commerce: Creating a Roadmap for a Digitally Inclusive Bharat’.
‘Connected Commerce: Creating a Roadmap for a Digitally Inclusive Bharat’
  • The report highlights challenges faced to accelerate digital financial inclusion in India.
  • The report also highlights recommendations and measures to grant digital servicesto1.3 billion citizens of India.
  • The report has suggested strengthening the payment infrastructure which will create the trust of citizens in digital transactions. It provides a perspective on how a connected commerce platform will help businesses to grow.
  • It has suggested improving payment infrastructure to promote a level playing field for NBFCs and banks. It has also suggested digitizing the registration and compliance processes and granting a diversified solution for credit sources which will enable growth in MSMEs.
  • The report highlights to build information-sharing system like fraud repository and to make provisions thatonline digital commerce platforms pops up a warning to make the customer aware about the frauds and related risks.
  • It has suggested digitizing the land records, to make city transit seamlessly accessible to all with minimal crowding and queues, contactless card payments and a fully open system such as that of the London ‘Tube’.
  • Static Part:
    • HQ of NITI Aayog: New Delhi
    • Chairperson of NITI Aayog: PM Narendra Modi
    • CEO of NITI Aayog: Amitabh Kant
    • HQ of Mastercard: New York, United States

Question: 

Q.1 Which organisation released the report titled ‘Connected Commerce: Creating a Roadmap for a Digitally Inclusive Bharat’?
a. NITI Aayog
b. RBI
c. Mastercard
d. Both (a) and (c)

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