Finance Minister Nirmala Sitharaman on February 1 announced the expansion of the government digital certificate depository Digilocker services for the fintech sector.
Documentation availability will be the focus for the digi locker expansion for the fintech sector, The fintech sector has been facilitated by digital services, PM Jan Dhan Yojana, Indian Stack and UPI,” Sitharaman said while presenting the Budget 2023.
DigiLocker is an Indian digitization online service provided by the Ministry of Electronics and Information Technology under its Digital India initiative. Follow our live blog for the latest Budget 2023 updates
Moneycontrol reported on January 25 that Digilocker will soon enable organisations to store and share their documents such as IT returns and financial statements with regulatory bodies.
Digilocker has also garnered interest among foreign governments who want to adopt the tool to ease document sharing in their countries. It is one of the building blocks of India Stack that the Centre has cleared for adoption and implementation internationally.
The Finance Minister also added that to expand the benefits of DigiLocker, a separate entity DigiLocker will be set up for the use of Medium, Small, and Micro enterprises (MSMEs).
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