From Account Aggregator To ONDC, Economic Survey Touts Potential Of Digital Public Infra

From Account Aggregator To ONDC, Economic Survey Touts Potential Of Digital Public Infra

SUMMARY

27 financial institutions, including 12 public sector and 10 private sector banks, have been onboarded as FIPs on the account aggregator framework: Economic Survey

ONDC has played a significant role in democratising digital payments, enabling interoperability, and bringing down transaction costs, it said

The Economic Survey said that the recent rollout of 5G services in India has the potential to spur innovations by startups

The country’s digital public goods infrastructure, including the UPI, DigiLocker, and CoWIN, found prominent place in the Economic Survey 2022-23, tabled by Finance Minister Nirmala Sitharaman in the Parliament on Tuesday (January 31) ahead of the presentation of the Union Budget 2023-24 on February 1.

Touting the ambitious account aggregator (AA) framework, the survey noted that more than 110 Cr bank accounts are currently eligible to share data on the AA network. 

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