FSSAI and Bank of Baroda Tie Up to Push Digital Payments
Why in the news
The food safety regulator joined hands with a public sector bank to move small food sellers away from cash towards secure, traceable payment methods.
Key facts
- Partners: FSSAI and Bank of Baroda.
- Aim: digital payment solutions for food business operators (FBOs) across India.
- Beneficiaries: street vendors, small eateries and micro food enterprises.
- Offerings: QR code payment systems, awareness and training on digital literacy, and simplified banking access.
- Implementation: nationwide, via FSSAI regional offices and Bank of Baroda branches.
Expected benefits
- Better financial inclusion and transparency.
- Less cash use and faster payments for small vendors.
Exam angle
- Full form: FSSAI = Food Safety and Standards Authority of India; FBO = food business operator.
- Payment tool highlighted: QR code.
- Objective: reduce cash transactions and improve financial transparency.