Professing Indianness has taken media spending to a new high and journalistic ethics to a new low. There are marketing as well as editorial solutions to ‘nationality laundering’. A Chinese company of yesterday becomes an Indian company of today by simply advertising so.
Although, there are varying estimates of India’s economic growth slowing down to as low as 6 per cent owing to demonetisation, there are others, which are pegging it at 8 per cent over next few years.
There is no country in the world today, which has as much at stake in digital technologies, as India has. One reason for this is that we have the youngest demographics in the world and this young population prefers to transact and communicate digitally. India will be the largest consumer of digital technologies in times to come.
Digital India has three layers: i) digital infrastructure as a utility to citizens; ii) software and services that are going to ride on this digital infrastructure; and, iii) digital empowerment.
Ram Sewak Sharma
India primarily has been a cash economy and less than 5 per cent consumption expenditure besides house rentals etc is through electronic instruments. Since we are 95 per cent cash, we use 4-times as much as cash as other market, be it Brazil, Mexico or South Africa. From the cards perspective, the government has done an incredible job of making sure that either the debit or a credit card is linked to a citizen in one way or the other.
Internet has been in existence for over two decades but it is only now that we have started talking about its relevance and importance to transactions. It is part of national infrastructure and economy and our financial systems ride on its strengths. We are witnessing a paradigm shift that security was never so important as it is today.
wo decades ago, it was product touted as the king. A decade later, customer became the king asking for a choice of customised products that was available to him. Today, technology is the king. All three have merged to serve the customer better and make the industry grow. Today, the focus is on simplification of processes, which are seamless. A customer is always counting on his clicks.
Several banks and financial institutions had already in one way or another initiated a lot of go-cashless initiative and introduction of Universal Payment Interface (UPI) has been one such national move.
India is passing through an economic reformation led by demonetisation and e-monetisation. If 1969 bank nationalisation ushered in development banking, which was perhaps the very first step towards financial inclusion