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Demonetization and the government’s push towards digital payments has opened the market to several platforms which are not only more convenient but also provide greater flexibility to the people using them. Digital payment ecosystem in India As per a study prepared by the Assocham-PWC India, it is expected that India will see the fastest growth ..
To further encourage people to use digital payments as the preferred mode of their transactions, the Union Budget has announced the following measures to make digital payments successful- A 2% tax deduction at the source is proposed for all cash withdrawals exceeding Rs 1 crore in a year from a bank account. To encourage a ..
The panel headed by Nandan Nilekani has submitted the recommendations to the Reserve Bank of India (RBI) for strengthening digital payments ecosystem. Recommendations of the Nilekani Panel The committee has listed a comprehensive set of regulatory interventions that will be needed to achieve the goal of a less-cash economy. The recommendations include: Easing KYC costs ..