How Demonetisation Can Help Leapfrog Digital India

January 22, 2017

The 8th of November 2016 was a watershed moment in the life of digital India. The strong inclination to cash meant that there was an upper limit to building a data-driven and digital economy. With no cash available in ATMs and banks, people are slowly turning to online methods for transactions.

Indians are adopting digital payment solution providers for trivial and non-trivial activities such as purchasing groceries, paying bills etc. The Government of India, for its part, has been encouraging the adoption of mobile wallets and cashless transactions. This presents a paradigm shift for technology companies that are looking to build products and services for the India of today.

India is a country with several inefficiencies and lack of infrastructure in financial services, retail, education, health services, insurance and manufacturing. Most of these sectors had limited innovation in technology due to the majority of transactions being done in cash.
(Huffington Post)

Leave a Reply