Kerala becomes country's first fully digital banking state (2024)

FAQs

Which state becomes the first fully digital banking state in the country? ›

Chief Minister Pinarayi Vijayan declared Kerala as the first state in the country to go fully digital in its banking service and said this recognition would boost the state economy.

Kerala is the first state to successfully link its villages with broadband connectivity under the National Optical Fibre Network (NOFN) program. Apart from the NOFN program, the state government had also started two digital projects — Akshaya and IT@School — in 2002.

The correct answer is Kerala. Kerala achieved the distinction of being the first digital state in the country having linked all villages in the state with broadband connectivity under the National Optical Fibre Network (NOFN) project.

90% work on K-FON completed, says Chief Minister

In 2021, Thrissur become the first district in the State to implement digital banking under the ''Expanding and Deepening of Digital Payments Ecosystem' scheme of the Reserve Bank of India (RBI).

The island nation of Tuvalu is set to become the world's first digital nation. Due to rising sea levels, portions of the island are regularly uninhabitable, and, without significant interventions, the entire country is expected to be underwater by the end of the century.

The rise of digital banks is not only a technological endeavor but also a response to shifting consumer preferences. Today's customers expect services that fit within their digital lives. They want to manage their finances the same way they shop, communicate and live: digitally, seamlessly and on-demand.

The answer lies in its diverse industries, from traditional handicrafts to modern technology. From textiles and spices to tea plantations and rubber production, Kerala has something for everyone. Its rich cultural heritage can be seen in its art forms such as Kathakali dance and Kalaripayattu martial arts.

Kerala's history is closely linked with its commerce, which until recent times revolved around its spice trade. Celebrated as the Spice Coast of India, ancient Kerala played host to travellers and traders from across the world including the Greeks, Romans, Arabs, Chinese, Portuguese, Dutch, French and the British.

Kerala is also one of India's most progressive states in terms of support to human development; delivery of justice; social protection; essential infrastructure and connectivity viz., 4 airports, 2 major seaports, 17 mini seaports, 2 ICT Terminals, 11 national highways, railways, metros, “SEA-ME-WE-3” and “SAFE” ...

Maharashtra:

The third-largest state in India by area, Maharashtra comes as the wealthiest when you account for the GDP of Indian states in 2024-25. Maharashtra can be called the creative hub of India with its thriving design, fashion, film, music, performing arts, publishing, and TV and radio industries.

Why is India called Digital India? ›

The Indian Government launched the Digital India campaign to make government services available to citizens electronically by online infrastructure improvement and also by enhancing internet connectivity. It also aims to empower the country digitally in the domain of technology.

Mizoram, a northeastern state of India, has been declared as the country's “happiest state”, according to a study conducted by an institute based in Gurugram.

The State has a mobile tele-density of 95 per cent and Internet covered over 60 per cent of the population. With broadband connectivity in every grama panchayat, Kerala has emerged a truly digital State.

Kerala State Co-operative Bank Limited, branded as Kerala Bank, is an Indian co-operative bank set up by the Government of Kerala, India.

Accordingly from 29th November, 2019 onwards, Kerala State Co-operative Bank and 13 District Co-operative Banks are functioning as a single entity with Brand Name “Kerala Bank”.

However, the 90s marked the true origin of online banking, when Stanford Federal Credit Union launched the first Internet banking website in 1994. Members could pay their bills through the website in 1997, then use mobile banking as early as 2002. Presidential Bank introduced internet banking in 1995.

The Bank of the United States, now commonly referred to as the first Bank of the United States, opened for business in Philadelphia on December 12, 1791, with a twenty-year charter.

The origins of banking can be traced back to ancient Mesopotamia, around 2000 BCE, where the first known form of lending took place. Temples, often considered the earliest banks, served as repositories for valuable items and grain, and priests would lend these resources to local farmers and merchants.