Essay – Digital Banking – Pros & Cons | Descriptive Paper Writing for Mains
Digital Banking Essay - Pros & Cons - Descriptive Paper for Mains Exams
The government had also said that the businesses with an annual turnover of over Rs. This is a noteworthy move by the government of India to incentivize people to adapt to the emerging cashless economy. Transforming the cash-dependent India into a cashless economy is proving to a great challenge for the Indian government given the size of the informal sector within the Indian economy. India cannot become cashless unless this mammoth sector adapts to the digital payments. Incentivizing the people alone is not sufficient. The government needs to develop the supporting infrastructures and technologies for India to become a cashless economy while also providing awareness to its people.
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A vast gender gap exists in the way technology is used in India. Credit: Osheen Siva. The bulk of policy and commercial interventions focus on improving access to internet services by upgrading spectrum and broadband infrastructure and bringing down the costs to individual users, in addition to facilitating the uptake of digital technologies through programs for digital skilling. Take mobile phone connections for example. A survey we conducted in semi-rural Madhya Pradesh revealed that a majority of the women who owned a cellphone did not know how to operate the phone.