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    Question

    Digital India Bhashini Division (DIBD) has signed a Memorandum of Understanding with __________ during the Global Fintech Festto revolutionize financial services by enabling communication in local languages  & to extend the reach of digital financial services to users in their native tongues, ultimately striving for seamless banking experiences for all.

    A RBIH Correct Answer Incorrect Answer
    B PFRDA Correct Answer Incorrect Answer
    C SEBI Correct Answer Incorrect Answer
    D NPCI Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Recognizing the need for linguistic inclusivity within the financial services sector, the Digital India Bhashini Division (DIBD) and the RBIH have already signed a ground-breaking Memorandum of Understanding (MoU) during Global Fintech Fest. This strategic partnership is poised to revolutionize financial services by enabling communication in local languages. The primary objective is to extend the reach of digital financial services to users in their native tongues, ultimately striving for seamless banking experiences for all.This collaboration arises against the backdrop of a transforming fintech sector, driven by increased smartphone penetration and reduced data usage costs. As a significant initial step, Bhashini plans to launch a Public Tech Platform for Frictionless Credit in multiple languages.This platform aims to streamline and enhance   credit delivery by financial institutions, contributing significantly to greater financial inclusion.

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