the indinas are adjusting

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the indinas are adjusting

Post by pravalika nanda on Tue Dec 13, 2016 6:40 pm

http://www.nytimes.com/2016/12/13/world/asia/india-cash-electronic-payments.html?mabReward=A4&recp=0&moduleDetail=recommendations-0&action=click&contentCollection=Asia%20Pacific&region=Footer&module=WhatsNext&version=WhatsNext&contentID=WhatsNext&src=recg&pgtype=article


excerpts:

Saurabh Porwal, 31, who sells onions on the roadside in Harola Market in Noida, a city near Delhi, downloaded the Paytm app after seeing the newspaper advertisement, which he then posted on his stall. “If you deal in less cash, it is less of a problem,” he says.
Moving toward a cashless economy would carry benefits for the government, ensuring that more taxes are paid and providing banks with more reserves to extend loans. About 78 percent of transactions in India last year were made in cash, compared with 20 percent in the United States, a joint study by Google India and Boston Consulting Group found.

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