The Union Budget 2017-18 announced the creation of a National Digital Payment Mission with a target of 2,500 crore digital transactions for 2017-18 through digital payment modes including UPI, USSD, IMPS, Aadhaar Pay and Debit Cards.

The NDPM will launch focused initiatives for establishing a robust, secure and inclusive Pan-India digital payment eco-system, which can be accessed by all sections of the society. The NDPM will have the following objectives:
(i) Promoting and overseeing the establishment, growth and sustenance of a robust, secure and inclusive National Digital Payments ecosystem.
(ii) Creating requisite enabling infrastructure for Government’s Digital Payments Service Delivery, Electronics Payments and Receipts (EPR) and Direct Benefit Transfer (DBT) programmes
(iii) Evolving appropriate standards for efficient, affordable and secure Digital Payments Service delivery
(iv) Ensuring security of digital payments ecosystem.
(v) Promoting research and innovation, including the development of new digital payment products, platforms, services and sustainable delivery models
(vi) Achieving the target of 2500 crore Digital Payment Transactions in the year 2017-18 through digital payment modes including UPI, USSD, IMPS Aadhaar Pay and Debit Cards

MyGov users have the exciting opportunity of coining a new name for the mission, which will be used as the official name of the Nation Digital Payments Mission.

The selected entry will be awarded a cash prize of Rs. 20,000.

Last Date of submission of entries is 20th May, 2017

Click here to read the Terms & Conditions, and the Evaluation Criteria.