Highlights

  • Digital adoption rate in India stood at 85%
  • FM Sitharaman's official visit to the U.S.

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Finance Minister Nirmala Sitharaman at IMF: India is a leader in digital adoption

The pandemic time actually helped us to test and prove for ourselves: FM

The digital adoption rate in India stood at 85 percent whereas it was just 64 percent globally, highlighted by Finance Minister Nirmala Sitharaman at the ongoing spring meeting of the International Monetary Fund (IMF) and the World Bank.

Sitharaman highlighted India's performance in the digital world and the government's efforts to build the digital infrastructure framework over the last decade, stressing the increase of the digital adoption rate in India during the COVID-19 pandemic.

Also read/watch | Money laundering, terror financing - biggest risk of crypto: FM Sitharaman

"If I use 2019 data, the digital adoption rate in India is about 85 percent. But globally that same year it was only somewhere near 64 percent. So the pandemic time actually helped us to test and prove for ourselves that it is simple to use, common people can use it, and adoption actually was proven," Sitharaman asserted.

Apart from her official engagements with the World Bank, IME, G20, and Financial Action Task Force (FATF), Sitharaman on Monday also attended an event at the Atlantic Council, a think tank based in Washington DC.

Also read/watch | SBI hikes rates, loans & EMIs get more expensive

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