The Communication minister Manoj Sinha has underscored the importance of financial inclusion saying that it is a contemporary solution to eradicate global poverty and bridging the digital divide. Speaking at the first symposium on Financial Inclusion Global Initiative in Bengaluru today, the minister said financial inclusion by Digital revolution is larger than Industrial revolution. He explained that Industrial revolution vested power in a few capitalists, whereas digital revolution will provide power to masses. <br/><br/>Saying that there is a significant improvement in the use of digital mode of payments, he informed that since January this year over 26.7 billion digital transactions were made since January this year, even when internet users are only 460 million in the country. Introduction of Jan dhan account, BHIM and UMANG apps, Bharat net programme and Aadhar has promoted digital economy in the country thereby eradicating fraud in Government programmes. The Government he noted has saved 8.9 billion US dollars by introduction of direct benefit transfer. The symposium organized for three days will help share best practices prevailing globally and also prepare a road map for bridging digital divide. <br/><br/>During the symposium it was reiterated time and again the importance of financial inclusion for poverty alleviation. Many speakers from the communication ministry stressed about the significant strides made to introduce digital mode of transactions. The secretary in the ministry Ajay Sani informed that since last two years there was 500 percent increase in the electronic payments and infrastructure.<br/><br/> Since last nine months 200 million people started using mobiles for transactions, three million Point of sale machines were distributed and 160 Government services were provided online through UMANG app. The Chairman of TRAI Ram Sevak Sharma informed that online purchases are being incentive and cost of digital transactions are being reduced in the country.