DR AS Ramasastri, Director, IDRBT
The present government’s move to demonetize currency has given an increased impetus to cashless and electronic transactions in the country. With digitization occurring across all spheres of life, the common citizen is being increasingly incentivized to go digital with their financial transactions which can rationally be assumed will approach much greater volumes in the coming years. With this in mind, where does India stand when it comes to securing the underlying technology infrastructure that will be the enablers for digital finance and banking? What are the shortfalls and what needs most attention from policy makers, practitioners and business leaders?