WARENESS PROGRAM ON DIGITIAL PAYMENTS

Ludhiana, December 24, 2016: CICU conducted special program jointly with MSME & NSIC on “AWARENESS PROGRAM ON DIGITIAL PAYMENTS” in association with leading banks on 23rd December 2016 at CICU Complex, Phase-V, Focal Point, Ludhiana.
Shri Avtar Singh, President, CICU honored Sr.Rakesh Nanwal Regional Banker of Syndicate bank, Neeraj Arora Assistant Director MSME, Vishal Bathnagar, Manager NSIC with a bouquet and said in his welcome speech “it’s time to go digital and perform transactions electronically as compared to traditional ways of doing payments” there was a time when people carry lot of money and were afraid of being theft but now this is time for them to adapt digital methods for transaction where all transaction can be done through mobile, cards, internet banking etc.
Shri Neeraj Arora Assistant Director MSME said people are facing many difficulties because of the demonetization era. “The benefits are enormous if you leave out the low-income group, which will face a huge challenge,” For the rest of the country, it is constructive and simple. Moving from cash-based to digital payments has the following benefits:
· Lower cost of disbursing and receiving payments
· Increased individuals’ risk management capacity
· Increased privacy of payments
· Lower leakage between sender and receiver
· Increased transparency of payments
· Increased speed of payments
· Increased security of payments and reducing the incidence of crimes associated with them
Shri Rakesh Nanwal Regional banker of Syndicate bank and his team showed a detailed presentation on mobile application of banks for mobile banking & how the payments can be done only with use of your Adhaar card number without Account number. He even focused on services from NATIONAL PAYMENTS CORPORATION OF INDIA like *99# from where *99# is a USSD (Unstructured Supplementary Service Data) based mobile banking service from NPCI that brings together diverse ecosystem partners such as Banks & TSPs (Telecom Service Providers). Using *99# service, a customer can access financial services by dialling *99# from his/her mobile registered with the bank. The service works across all GSM service providers and handsets.
Shri Vishal bathnagar, Manager NSIC also discussed about the various tools which will ease digital transaction with a more transparent system being ushered in through an increasing shift to digital and cashless transactions. He further shared NSIC schemes for the better uplift of the Micro small & medium scale industries.
Shri Pankaj Sharma, President Focal Point Association shared his views on the importance of digital transaction as well as the cons of all kind of internet frauds of educated thieves like hackers etc. to make aware people to have a safer transaction.
The program was appreciated for the benefits gained by Sh. T R Mishra, Sh. Phuman Singh Sh. Sanjay Dhiman, Sh. Pankaj Sharma, Sh. Shasheesh Saini, Sh. Surinder Singh Bedi and other 50 participants including Proprietors, Partners, Directors, GM (HR), Manager (HR) and Professionals from Industry and trade.