digitilisation

1. Digital Banking
Digital banking refers to the banking done through digital platform means availability of all banking activities online. Digital
Banking can be done either through a laptop, tablet or your mobile phone.
It is very convenient as Our smartphones and computers are typically readily available, allowing 24/7 account access to take
care of any number of banking tasks quickly. Not just this, but also, digital banking is way more safer and provides security of
one’s money.
In India, digital banking started taking shape in the late 1990s with ICICI Bank being the first one to bring the service to their
retail clients. Digital banking became mainstream only in 1999 as internet charges were reduced and there was increased
awareness and trust with respect to the internet. According to Razorpay, digital payment transactions have grown up to 76%
for the past 12 months with several first-time digital payment users. As per reports, the Indian digital payments industry is
estimated to grow up to US$700 billion by 2022.
A study conducted in 2015 revealed that 47 % of bankers see digital banking as means to improve customer relationship,44 %
to generate competitive advantage,32 % as a channel for new customer acquisition, and 16 % for cost saving.
PM Modi launches e-RUPI
On August 2, Prime Minister Narendra Modi launched e-RUPI, a futuristic person and purpose-specific digital payment
solution, via video link. e-RUPI is a cashless and contactless instrument for digital payment. It is a QR code or SMS string-based
e-Voucher, which is delivered to the mobile of the beneficiaries. The users of this seamless one-time payment mechanism will
be able to redeem the voucher without a card, digital payments app, or internet banking access, at the service provider.

2. Case study(Paytm)
• Paytm was founded in August 2010 with an initial investment of US$2 million by its founder Vijay Shekhar
Sharma in Noida, Delhi NCR. It started off as a prepaid mobile and DTH recharge platform, and later added
data card, postpaid mobile and landline bill payments in 2013.
• Today, Paytm Wallet is the most preferred digital wallet in India as it has the highest rate of success of
transactions among all the other wallets in India. Using your digital wallet, you can make purchases online,
send or receive money, make in-store payments etc with the help of your digital wallet.
• Strategy structure which was offered by our Indian Government are towards innovation are Make in India,
Startup India and Skill India. And Paytm was one among such innovation which came as an alternative to the
cash transactions. It is a changeover to a digital model according to the marketplace. In India Paytm is
constantly growing to be the top platform for mobile, e wallet and commerce. After demonetizing the 500
and 1000 rupees notes Paytm understood that it can successful only by offering services towards Cashless
Economy. Paytm is a successful technological innovation which has created a balance between cost and
efficiency.
• Paytm Payment Bank counted 53.8 crore online transactions in October 2021 on the Paytm mobile app.

3. • Facts About Paytm Users
• Paytm has more than 450 million registered users.
• $2 million was the initial investment made by Paytm founder, Vijay Shekhar
Sharma, in 2010.
• Paytm has 39 million daily active users.
• Paytm has generated 36.29 billion INR ($510 million) in 2019.
• Over 70 million games are played on Paytm Gamepind each month.
• 89% of users aged between 16 to 24 years prefer Paytm.
• India’s payments market is estimated to be worth $1 trillion in the next three
years.
• 5 million Paytm transactions are processed every day.
• 850,000 offline merchants currently use Paytm.
• There are 2 times more men than women who use Paytm.
• 70% of Paytm users have an Android device.
• A 1000% growth in money added to the average Paytm account has been
recorded.

5. Digital education
• Digital education is the innovative incorporation of modern technology and digital tools to assist the
progress of teaching and learning. It is also known as Technology Enhanced Learning (TEL), digital learning,
or e-learning.
• Saves time and money. One of the most obvious advantages of e-learning is that you can save time and
money.
• Better retention. E-learning makes use of different platforms like Pedagogue, which provides interactive
content.
• Personalised learning. It is very easily accessible and operable. Even the current pandemic situation, digital
education has been a great support as offline schooling was not possible.
• Environment-friendly. It does not have any effects on our environment and does not exploit resources.

6. Diksha
• DIKSHA (Digital Infrastructure for Knowledge Sharing) is a national portal for school education.
DIKSHA portal – National Teachers Platform (NTP) was developed on the basis of the core
principles of open access, open architecture, open licensing diversity and autonomy outlined in the
‘National Teacher Platform (Strategy and Approach)’ paper released by the Ministry of Human
Resources Development in May 2017.
• DIKSHA portal – NTP was launched by the Hon’ble Vice President of India on 5 September 2017,
and it has been adopted by 35 states/UT’s across CBSE (Central Board of Secondary Education)
and NCERT (National Council of Educational Research and Training) by crores of learners and
teachers.
• DIKSHA Portal – NTP is an initiative of the NCERT, Ministry of Education. It is a state-of-the-art
platform built using Application Program Interfaces (APIs) and Open Standards to host Open
Educational Resources (OER). It provides tools for Teachers in Schools, Student Teachers in
Teacher Education Institutes (TEIs) and Teacher Educators in TEIs.
• It is a unique initiative that leverages the existing flexible and highly scalable digital infrastructures
while keeping the teachers at the centre. It is built keeping in mind the whole teacher’s life cycle, i.e.
from the time student teachers enrol in TEIs till after they retire as teachers.
• It aims to equip all the teachers across the nation with advanced digital technology. It will
accelerate, enable and amplify solutions in the field of teacher education. It will aid teachers to train
and learn through the assessment and learning resources available on the portal. It will also help
teachers create in-class resources, profile, training content, news and announcement, assessment
aids, and connect with the teacher community

7. Benefits Of Diksha
• Teachers can get access to relevant, personalised professional
development training anywhere and anytime.
• Teachers in the schools can use the curriculum-linked resources to
prepare their class or teach in the class, while the Teacher Educators
in TEIs can use it to provide blended training.
• Student Teachers in TEIs and contractual teachers can take courses
on the portal for preparing for Teacher Eligibility Test (TET) or/and
get certified.
• Cluster and Block Resource Personnel can use the standardised
observation tools on the portal to arrange need-based coaching
support for teachers and conduct a continuous training needs
analysis.
• Teachers can have access to a personalised workspace to track and
plan their progress, including performance in tests, courses
completed, etc.

8. IT Sector And Digitalisation
• In the IT sector, digitalization is changing the way customers view businesses and what they
offer.
• The 4 Main Areas of Digital Transformation
• 1. Process Transformation. Process transformation entails modifying the elements of a
business's processes in order to achieve new goals.
• 2. Business Model Transformation.
• 3. Domain Transformation.
• 4. Cultural/Organisational Transformation.

9. Employment And ContributionTo GDP due to
digitalisation
• Digitalisation has majorly taken place in IT sector and has created a lot of employment and
contribution to GDP of the country. Digitalisation has created some 1.5 million jobs.
• Core digital sectors such as IT and business process management (IT-BPM), digital communication
services, and electronics manufacturing could double their GDP level to $355 billion to $435 billion by
2025, while newly digitising sectors (including agriculture, education, energy, financial services,
healthcare, logistics, and retail), as well as digital applications in government services and labour
markets, could each create $10 billion to $150 billion of incremental economic value in the same
period. Some 60-65 million jobs could be created by the productivity surge by 2025, although
redeployment will be essential to help the 40 million to 45 million workers whose jobs will likely be
displaced or transformed by digital technologies
• India’s core digital sectors accounted for about $170 billion—or 7%—of GDP in 2017–18. This
comprises value added from sectors that already provide digital products and services at scale, such as
IT-BPM ($115 billion), digital communication services ($45 billion), and electronics manufacturing ($10
billion). These sectors could grow significantly faster than GDP, and their value-added contribution
could range from $205 billion to $250 billion for IT-BPM, $100 billion to $130 billion for electronics
manufacturing, and $50 billion to $55 billion for digital communication services, totalling between
$355 billion and $435 billion and accounting for 8-10% of GDP in 2025.