Tuesday, Jun 28, 2022
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Going Digital

How India Wants Its Money And Why Cashless Transaction Is Far From Reality

With 100 million users in a country of 1,350 million, cashlessness of the digital kind is a long way home

How India Wants Its Money And Why Cashless Transaction Is Far From Reality
Slow Motion | Photograph by PTI
Jan Dhan queue in Hyderabad
How India Wants Its Money And Why Cashless Transaction Is Far From Reality
outlookindia.com
2019-06-14T18:43:54+05:30

Nilekani’s Way Forward

Some recommendations of the RBI-appointed Nandan Nilekani committee on digital payments:

  • No-KYC wallets with a maximum value of Rs 2,000 and monthly spending capped at Rs 10,000
  • Digital payments by citizens to all ­government and public sector agencies
  • Removal of all charges on digital ­payment transactions
  • Extension of RuPay and BHIM UPI ­overseas to facilitate easy remittance

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