Financial Literacy Current Affairs

Andhra Pradesh Government launches AP Purse mobile app to promote digital transactions

Andhra Pradesh Government has launched AP Purse mobile application to promote digital transactions among the people.

It was launched by Chief Minister N Chandrababu Naidu in Vijayawada to solve the cash crunch problem in the state following demonitisaton of high value old currency notes. 

Key Facts
  • The application features 13 mobile banking and 10 mobile wallet options. Using this application people can pay their bills and carry out their cashless transactions.
  • Besides, Government will rope agents named ‘Marpu Nestam’ to improve digital financial literacy among people. They will be provided with incentives.
  • Engineering students will be encouraged to train people in mobile banking transactions using several wallets. This would help the students to earn while learn.
  • State government introduced cashless transactions at fair price shops and completed 70% of transactions using Aadhaar linkage to provide relief to people suffering from shortage of small currency.

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Union HRD Ministry launches Vittiya Saksharata Abhiyan

Vittiya Saksharata Abhiyan (VISAKA) was launched by the Union Ministry for Human Resource Development (HRD) to make people aware about cashless economic system.

It was launched by Union HRD minister Prakash Javadekar in New Delhi. It is campaign by Higher Educational institutions for digital econmy.

Key Facts
  • VISAKA aims to create awareness among people about digital economy and cashless modes of transactions
  • It was launched on line with Prime Minister’s appeal to youth in ‘Mann Ki Baat’ for creating awareness for making India digital and cashless economy.
  • Under it, young students and faculty members will be roped to encourage and motivate people to use a digitally enabled cashless economic system for transfer of fund.
  • For active participation of youth and faculty, HRD Minister also launched a webpage where students can register themselves.
  • On this website, students and faculty members also can provide their feedback and suggestions on the initiative as well as upload the progress of their work.

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