G20 Summit RBI Innovation Pavilion: RBI’s ‘Innovation Pavilion’ will showcase central bank digital currency, public tech platform for frictionless credit, use of technology to provide paperless digital loans and other unique payment systems (‘UPI One World’ , ‘Rupay on the Go’, international bill payments through India Bill Pay etc.) have been included.
New Delhi. In view of the G-20 Summit, several exhibitions have been set up in the India Pavilion at the Convention Centre, which will showcase India’s technological prowess and innovation and provide many unique experiences to the visitors. One of these is the ‘Innovation Pavilion’ of the Reserve Bank of India (RBI), where such cutting-edge financial technologies are being showcased at the G20 Summit that will show their potential to revolutionize the financial landscape.
Under this, RBI also demonstrated contactless payments through key chains, smartphones and rings at ‘Bharat Mandapam’, the venue of the G20 summit in Delhi. The RBI exhibition includes products showcasing the unique aspects of India’s innovation in the financial sector.
VIDEO | RBI showcases contactless payment via keychains, smartphones, and rings at the Bharat Mandapam, the venue for G20 Summit in Delhi. pic.twitter.com/3ATGT8S62B
— Press Trust of India (@PTI_News) September 8, 2023
These include central bank digital currencies, public tech platforms for frictionless credit, use of technology to provide loans in a paperless digital manner and other unique payment systems (‘UPI One World’, ‘Rupay on the Go’, Bharat Bill Payments Through international bill payment etc.)
‘UPI One World’ has been designed for those foreign travelers who do not have bank accounts in India. Foreign nationals can avail the prepaid payment service to enjoy a hassle-free secure payment experience during their stay in India. In this, they will be provided an amount of Rs 2,000, which they can use as per their wish.
