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LATEST NEWS UPDATES | Demonetisation and digital transactions will never stop corruption in India. Here's why -Manoj Gairola

Demonetisation and digital transactions will never stop corruption in India. Here's why -Manoj Gairola

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published Published on Dec 17, 2016   modified Modified on Dec 17, 2016
-The Economic Times

If digital transactions could curb corruption and black money , Kenya would have be en the most transparent co untry in the world. About 75% of the adult population in Kenya uses mobile phones for payments and money transfer. The value of mobile money transactions and transfers per day is equal to 4.5% of annualised GDP of Kenya, as per a report published in an International Monetary Fund (IMF) journal.

The use of mobile money is so widespread that Kenyans can use mobile wallet to pay for goods at virtually any retail shop throughout the country .This is something that the Indian government aspires to achieve post-demonetisation.

However, Kenya was listed as one of the world's most corrupt countries in Transparency International's 2015 Corruption Perception Index, ranking 139 out of 168.

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The Economic Times, 17 December, 2016, http://economictimes.indiatimes.com/news/economy/policy/demonetisation-and-digital-transactions-will-never-stop-corruption-in-india-heres-why/articleshow/5603201


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