-The Times of India CHENNAI: If demonetisation was a push for a cashless economy, it has been working very slowly. Reserve Bank of India data shows the usage of wallets, non-UPI banking apps and Aadhaar-enabled payments has been slow to catch on, while that of debit cards has fallen. The UPI payments have been growing, and a significant chunk of them are mobile-based. Overall, electronic payments stood at Rs 200 trillion in...
More »SEARCH RESULT
Total Matching Records found : 156
One year after demonetisation, cash is still king -Roshan Kishore
-Livemint.com Cash scarcity led to a spike in digital payments post demonetisation, but the trend reversed as remonetisation picked up pace New Delhi: Soon after demonetisation was announced on 8 November last year, it was projected as part of a broader push towards a cashless economy. Several ministers and government officials claimed that this would nudge Indians to rely on non-cash or digital payments. In the weeks and months following demonetisation, digital payments...
More »Jean Dreze, development economist, interviewed by Santwana Bhattacharya (The New Indian Express)
-The New Indian Express NEW DELHI: Amid controversial reports of hunger deaths in Jharkhand due to PDS beneficiaries being turned away, economist Jean Dreze says that even official records show that a significant proportion of people are being deprived of food rations every month. In an interview with New Sunday Express, the prime mover behind the NREGA welfare scheme said “this does not mean that Aadhaar is solely responsible for the failures...
More »ATM expansion slows due to note ban -Manojit Saha
-The Hindu Replacement of systems more than 7 years old, Centre’s digital push lead to cutting down on new installations A combination of factors, including cash crunch following demonetisation of high value notes announced in November last, have led to commercial banks cutting down on the number of automated teller machines (ATMs) particularly those not located in branches (off-site ATMs), latest RBI data showed. According to Reserve Bank of India (RBI), there were...
More »Vague RBI guidelines see banks cap PM's Jan Dhan Yojana accounts -Mayur Shetty
-The Times of India MUMBAI: Crores of Pradhan Mantri Jan Dhan Yojana (PMJDY) account-holders risk either having their accounts frozen or having charges imposed if they exceed four debit transactions in a month. Vague wording of the Reserve Bank of India's guidelines on basic savings bank deposit accounts (BSBDA), which include PMJDY accounts, has led to banks conjuring up ways to cap free transactions. The norms applicable to PMJDY accounts are those...
More »
