ATMs, Credit, Debit Cards set to disappear: Niti Aayog CEO

सोमवार, 10 एप्रिल 2017

With India embracing applications of technologies at an accelerated pace, digital transactions will be done through mobile wallets and bio metric modes and credit and debit cards as also ATM's were set to disappear, Niti Aayog CEO Amitabh Kant has said.

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<p><span style="background-color:rgb(255, 255, 255); color:rgb(60, 61, 61); font-family:arial,helvetica,sans-serif; font-size:14px">With India embracing applications of technologies at an accelerated pace, digital transactions will be done through mobile wallets and bio metric modes and credit and debit cards as also ATM's were set to disappear, Niti Aayog CEO Amitabh Kant has said.</span><br /> <br /> <span style="background-color:rgb(255, 255, 255); color:rgb(60, 61, 61); font-family:arial,helvetica,sans-serif; font-size:14px">"Technology will be a key driver of India's growth," Kant said while launching the Trade and Investment Facilitation Services (TIFS) of the PHD Chamber of Commerce and Industry (PHDCCI) here on Friday evening.</span><br /> <br /> <span style="background-color:rgb(255, 255, 255); color:rgb(60, 61, 61); font-family:arial,helvetica,sans-serif; font-size:14px">"Physical banking in India is almost dead and it is adopting pervasive technologies with such an accelerated pace that in next three to four years, the digital transactions would move through mobile wallet and bio metric modes," he said. "Credit cards, debit cards and ATM's will disappear."</span><br /> <br /> <span style="background-color:rgb(255, 255, 255); color:rgb(60, 61, 61); font-family:arial,helvetica,sans-serif; font-size:14px">Kant said that India was growing 7.6 per cent annually in the midst of a very barren barren economic landscape across the world.</span><br /> <br /> <span style="background-color:rgb(255, 255, 255); color:rgb(60, 61, 61); font-family:arial,helvetica,sans-serif; font-size:14px">"The population in America and Europe will keep getting older while that of India will keep getting younger," he said.</span><br /> <br /> <span style="background-color:rgb(255, 255, 255); color:rgb(60, 61, 61); font-family:arial,helvetica,sans-serif; font-size:14px">In terms of ease of doing business, he said that in the last year "we scrapped 1200 laws".</span><br /> <br /> <span style="background-color:rgb(255, 255, 255); color:rgb(60, 61, 61); font-family:arial,helvetica,sans-serif; font-size:14px">Stating that India was larger than 24 European countries, Kant said that states should appear as champions of growth.</span><br /> <br /> <span style="background-color:rgb(255, 255, 255); color:rgb(60, 61, 61); font-family:arial,helvetica,sans-serif; font-size:14px">He declared that India would continue to globalize and dismantle rules and regulations that adversely affected inbound investments. It would also create conditions for expansion of its economy.</span><br /> <br /> <span style="background-color:rgb(255, 255, 255); color:rgb(60, 61, 61); font-family:arial,helvetica,sans-serif; font-size:14px">"Despite (US President Donald) Trump talking of protectionism (of US economy), there is no talk of protectionism here," the Niti Aayog CEO said.</span><br /> <br /> <span style="background-color:rgb(255, 255, 255); color:rgb(60, 61, 61); font-family:arial,helvetica,sans-serif; font-size:14px">"India believes in globalization and it will continue to globalize and shall never talk of protectionism. As a result, it will emerge as an economy that would attract investments and growth and make India a hub of economic engagements par excellence."&nbsp;</span><br /> <br /> <span style="background-color:rgb(255, 255, 255); color:rgb(60, 61, 61); font-family:arial,helvetica,sans-serif; font-size:14px">Stating that there is energy and dynamism in the young start-up sector, he said that India has become the centre of innovation in many ways.</span><br /> <br /> <span style="background-color:rgb(255, 255, 255); color:rgb(60, 61, 61); font-family:arial,helvetica,sans-serif; font-size:14px">"Around 1500 companies have located their innovation centres in Hyderabad and Bangalore... India is the centre of frugal engineering."&nbsp;</span><br /> <br /> <span style="background-color:rgb(255, 255, 255); color:rgb(60, 61, 61); font-family:arial,helvetica,sans-serif; font-size:14px">Kant also said India would see a lot of urbanization in the times to come and technology would play a key role in this..</span><br /> <br /> <span style="background-color:rgb(255, 255, 255); color:rgb(60, 61, 61); font-family:arial,helvetica,sans-serif; font-size:14px">Speaking on the occasion, Amar Sinha, Secretary (Economic Relations) in the Ministry of External Affairs, said that it was healthy sign that states were competing with each other in terms of growth.</span><br /> <br /> <span style="background-color:rgb(255, 255, 255); color:rgb(60, 61, 61); font-family:arial,helvetica,sans-serif; font-size:14px">But he advised Indian industries to look outside as there were huge opportunities lying there.</span><br /> <br /> <span style="background-color:rgb(255, 255, 255); color:rgb(60, 61, 61); font-family:arial,helvetica,sans-serif; font-size:14px">"There are new opportunities in Africa and the Gulf," he said, adding that India's focus would be on energy and food security and manufacturing.</span><br /> <br /> <span style="background-color:rgb(255, 255, 255); color:rgb(60, 61, 61); font-family:arial,helvetica,sans-serif; font-size:14px">Canadian High Commissioner to India Nadir Patel, who was also prese</span></p>

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