Contactless payments: A step in right direction can help govt meet ambitious 30 bn digital transactions target
The future of payments is contactless and a cash-loving country like ours can make a successful shift towards becoming a digital economy, by embracing contactless payment cards.
The draconian punishments announced for keeping more than 10 notes of demonetised currency including a four-year jail sentence seems to be a defence mechanism to discourage any trigger happy Public Interest Litigator from suing the Reserve Bank of India (RBI) for breaking its promise.
A nasty fight erupted outside a bank in Bulandshahr after a woman attempted to jump the queue to withdraw money, prompting police to fire in the air.
The Reserve Bank of India is not giving enough cash to public sector banks, says All India Bank Employees Association, Vice-President, Vishwas Utagi.
The overall cost of the demonetisation exercise could run to Rs 30,000-40,000 crore, excluding the loss of GDP which cannot be made up like in services