It was launched in December 2016 in the backdrop of demonetization for creating awareness among people about digital economy and cashless modes of transactions.
In VISAKA, an appeal was made to educational institutions and students to promote and adopt digital modes of payment. Higher educational institutions were asked to accept fee/donations in digital mode whereas students were asked to pay in digital mode. The campuses were urged to be made cashless.
The students were also asked to promote the digital platform and create awareness about digital economy amongst peers, elderly as they are better rehearsed with technology.
It did result in rise in rate of digital payment as digital payments in India grew at 12.7% in 2019. According to RBI Digital Payment Index, digital payments grew at 30% in Financial Year 2021.
