Budget 2023: Government to increase DigiLocker availability to support KYC-related activities

• Image Credit: Google

• Feb 1, 2023 | Dhupali Das

Budget 2023: DigiLocker was launched in 2015 by the Ministry of Electronics and Information Technology as part of the Digital India initiative...

Digital Desk: Finance Minister Nirmala Sitharaman has announced that the government will broaden the scope of documents available in DigiLocker. The move is aimed at assisting the Digital India initiative as well as fintech and other KYC activities in the country. The government will establish a DigiLocker entity for SMEs, large businesses, and charitable trusts to use for easily storing and sharing documents online.

For those who are unaware, DigiLocker was launched in 2015 by the Ministry of Electronics and Information Technology as part of the Digital India initiative. The secure app allows users to digitally store and share important government-verified documents. The announcement of DigiLocker's expansion incited immediate excitement in the business world.

After Finance Minister Nirmala Sitharaman announced the DigiLocker expansion plan, Xiaomi India President Muralikrishnan B tweeted, "The expansion of DigiLocker's scope, in terms of allowing a broader range of documents to be accessed by both citizens and businesses, will boost the digital economy, making citizens and governance smarter and more efficient."