Bank of India has reportedly set each of its 54 zones a target of converting a minimum five villages into ‘digital villages’ by September 2017. Of its 54 zones pan-India, the bank already converted 81 villages into digital villages in 49 zones within a period of three months i.e. January to March 2017.
A digital village is one where transactions in the local economy happen in a cashless mode through use of, among others, credit/debit cards and mobile phone applications/e-wallets.