COVID-19 pandemic induced an unforeseen global socio-economic distress and caused loss of lives and livelihood with substantial spill overs. This created an extraordinary challenge for the governments and policymakers to implement appropriate relief, restoration, and stimulus package to minimise and absorb the pandemic induced hardships. Government of India, State Governments, Reserve Bank of India and other relevant stakeholders took numerous steps to leverage the last mile reach of the FI ecosystem and digital transactions in furthering and deepening the financial inclusion efforts, especially through Digital Public Infrastructures (DPI)7 in a cost-effective and innovative manner. To mitigate the adverse impact of COVID-19 pandemic, the Government of India was able to smoothly deliver an amount of ₹5.53 lakh crore digitally across 319 government schemes spread over 54 ministries during 2020-218 under the PM Garib Kalyan Yojana, using DPI. The Business Correspondent (BC) Model emerged as a critical lifeline in disbursing such benefits to the doorstep of the people, especially in rural areas of the country. During the pandemic, ICT-BC transaction routed through BC outlets witnessed a significant surge crossing more than 94 crore transactions accounting for ₹2.25 lakh crore during 2020-219. RBI in its pursuit to support digital financial services enhanced limit for additional factor of authentication (AFA) per transaction for card transactions in contactless mode at Points of Sale (PoS) terminals, while actively promoting use of digital payments. Further, to alleviate stress amongst small borrowers, RBI undertook measures, namely, grant of moratorium on consumer term loan for a period of six months (March 1, 2020 – August 31, 2020), deferment of interest on working capital facilities in the form of cash credit/overdraft, easing of working capital financing, and facilitating financial institutions to resolve stressed loans to individuals, small business and MSMEs, besides several relaxations in priority sector lending. Since the pandemic created hurdles in delivering financial literacy to the masses through physical modes, Regional Offices (ROs) of the Bank explored innovative approaches to promote financial literacy amongst the masses, such as Community Radio Channels, Local TV Channels and Local FM stations to impart the financial education in regional languages/local dialects. On its part, SEBI adopted virtual mode to reach out to investors across the country covering over one lakh participants through investor awareness programmes conducted by exchanges, depositories, and SEBI recognised investor associations and trainers. source: NSFI 2025-30