AUGUST 202481.73L PANCHAYATS WITNESS DIGITAL TRANSFORMATION VIA UPI TECHNOLOGYCHARLES SCHWAB OPTS HYDERABAD FOR ITS MAIDEN TECH DEVELOPMENT CENTERIn a notable step towards digitization, more than 1.73 lakh panchayats across India have adopted Unified Payments Interface (UPI) technology for digital transactions. This development allows rural citizens to make tax and non-tax payments digitally, enhancing the financial strength and governance of Panchayati Raj Institutions (PRIs), announced Union Minister of State for Panchayati Raj, Professor S.P. Singh Baghel.Minister Baghel pointed out that rural residents can now use UPI platforms to pay various taxes and fees, including property tax, water tax, streetlight tax, trade license fees, building permission fees, and layout approval fees. This move not only simplifies payment processes but also strengthens financial infrastructure within rural areas."This streamlined approach encourages rural citizens to take advantage of the financial services and insurance benefits provided by the government, promoting financial empowerment and security among the rural population," Baghel stated.India has seen remarkable growth in digital payments over the past decade, with UPI becoming the preferred payment method for many citizens. Baghel also noted that the Ministry of Panchayati Raj supports state efforts through Central Finance Commission Grants and the revamped Rashtriya Gram Swaraj Abhiyan (RGSA).The widespread adoption of UPI in panchayats marks a significant milestone in India's journey toward digital empowerment and financial inclusion, particularly in rural areas. Charles Schwab, a major player in global financial services, has chosen Hyderabad as the site for its first Technology Development Center in India. This important decision underscores Hyderabad's emerging role in the international tech sector.The choice follows successful talks between Chief Minister A. Revanth Reddy, IT Minister Sridhar Babu Duddhilla, and top Schwab executives Dennis Howard and Rama Bokka at Schwab's headquarters in Dallas. Both the Chief Minister and IT Minister have promised to assist Schwab with the necessary procedures to set up their center in Hyderabad, ensuring quick access to local talent for a fast-tracked launch.Schwab's leadership has expressed strong optimism and gratitude for the state government's proactive support, viewing it as a promising sign of a successful collaboration. The company is now waiting for final approvals to reveal more details about the center and to send a team to India to establish the Schwab Technology Development Center in Hyderabad officially. This move highlights Hyderabad's growing importance as a key destination for global technology development. TOP STORIES
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