Monday, January 23, 2012

Bye-bye cheques, hello electronic payments

Electronic transactions are making rapid strides, with more and more of us abandoning cheques and cash in favour of Internet banking and cards. Reserve Bank of India data for retail electronic payments show that in 2010-11, the total value of electronic transactions almost doubled that of the previous year. Again, between April and November 2011 the value transacted was 72 per cent more than in the same period the year before.

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