Prime Minister Narendra Modi recently asserted that a person earning Rs 200 a day by selling pakodas is also employed.
It should not be a source of pride that millions are managing to eke out a meagre income. Instead it should be seen for what it is – a sign of under-employment.
While it may have boosted certain modes of digital transactions, these are still just a drop in the bucket when compared to ground realities and the larger sea of retail payments.
C. Rammanohar Reddy speaks to The Wire about his recent book Demonetisation and Black Money, the impact of the policy on the masses and the government’s shifting narrative towards digitalisation.
It remains to be seen whether the consumer affairs ministry plans on levying a nominal fee or issuing a public statement that criticises the companies’ actions.
UPI was downloaded more than 17 million times within two months of launching, and transaction values jumped 18 times between November and January.
From Paytm to UID – from the Ministry of Corporate Affairs to leading insurance and telecom companies – India Inc and the government are prone to poor design choices and sloppy programming.
While the president’s office has been quick to clamp down on any unauthorised usage of images, the prime minister’s office has stonewalled RTIs while refusing to take remedial action against Reliance Jio or Paytm.
Kenya is seeking greater engagement with India in tourism, defence and healthcare, while India is looking to regain its position as Kenya’s number one trade partner from China.
Petrol pump owners are protesting the imposition of a 1% service fee on all cashless transactions, saying they will lose twice of what they make in profits.
Proactive compliance and regulatory engagement will bring distinct advantages and not hamper the growth of financial technology platforms.
India falls well short of the pre-requisites needed to become a digital economy.
There’s pain, both private and public, as dreams begin to shatter in the prime minister’s constituency post demonetisation.
Digital payments are largely one-sided click-wrap agreements that come with an absence of data and legal protection.
But there is no evidence of the government rushing to take remedial action against Reliance, or other big corporate offenders who appear to have turned the prime minister into a prop for their commercial advertising.
Elaborate tax frauds are committed by corporate giants in a squeaky clean, cashless financial environment – why isn’t the government going after those?
A.P. Hota spoke to The Wire about the challenges facing the digital banking sector and plans to implement interoperability between different mobile wallets.