.....There
are new emerging payment systems and we are trying to become a
less-cash society, even if we cannot be a cashless one.” He speaks about
interesting possibilities like cash at POS where people can withdraw
cash from retailers. With M Pesa for instance one can even pay for
sweets at Shrinathji and Birdy’s. That is the kind of sweet ending Raghuram Rajan would surely like.
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1 comment:
Mobile platforms for payments and settlement solutions in a less literate society as India, are high risk terrains. Cyber crimes involving mobile and credit card payments have scaled up to new highs in all the countries where they are in use. Secondly, we have vey lax legal administration that takes its sweet time to book the culprits and punish them. In a country with just around 3% of net-savvy customers, to expect to migrate to mobile tracks would be a fond hope for the customer and regulatory challenge for the RBI. If wishes were horses......would be the riders.
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