Digital Economy - Initiatives to go "Less-Cash"

ezsasa

Designated Cynic
Mod
Joined
Jul 12, 2014
Messages
31,719
Likes
146,997
Country flag
Government seems to be serious about "less-cash" economy as a follow up for demonetisation. Since it might take a couple of years for things to fall in place, starting this thread to keep track of things.
 

ezsasa

Designated Cynic
Mod
Joined
Jul 12, 2014
Messages
31,719
Likes
146,997
Country flag
Your 12-digit Aadhaar number could soon replace all card transactions


Soon your 12-digit Aadhaar number could replace all card transactions as the government is gearing up to strengthen the Aadhaar enabled transactions as part of its drive to help India become a cashless economy. The move, which is part of an all-round approach towards enabling digital payments and is being driven by NITI Aayog, would also see government soon coming out with a clear-cut defined policy to disincentivise cash transactions in the country.

"The Aadhaar-enabled transactions are card-less and pin-less. This would enable android phones users to digitally transact using their Aadhaar number and fingerprint/iris authentication," Ajay Pandey, director general of the UIDAI said.

According to Pandey, this would require a multi-pronged strategy, including talking to mobile manufacturers, merchants and banks, and the government has already started working in different directions to help achieve this.

"We are asking mobile manufacturers to see if all mobiles made in India should be inbuilt with iris or thumb identification system to as to help Aadhaar-enabled transactions," NITI Aayog CEO Amitabh Kant said. Kant is part of the chief ministers committee which will lay out a roadmap for implementation of digital payments over the next one year. The first meeting of the committee would be held on Thursday.

According to Kant, the government is simultaneously creating a system of incentives/disincentives so that cash transactions become more expensive and people are incentivised enough to pay digitally. Kant, however, refused to divulge details of what the incentives could be.

After its massive demonetization drive launched on November 8, the government had said that no additional charges will be levied on digital transaction until December 30. While merchants continue to charge 2% extra on transactions even now, the scheme would end by the end of the calender year and hence the government wants to put in place a proper system to continue this on sustainable basis.


Meanwhile IT secretary Aruna Sundarajan said that the ministry has kept aside Rs 100 crore to incentivise enrollment of merchants on to the digital platform to help push the drive. "IT department is providing incentive of Rs 100 for every merchant enrolled through over two lakh common service centres across India," she said.


"The ministry will undertake a major outreach communication campaign starting from Monday to ensure that every segment of population is enables to use one of other mode of digital payment." she added.

Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst
 

ezsasa

Designated Cynic
Mod
Joined
Jul 12, 2014
Messages
31,719
Likes
146,997
Country flag
Modi to 'Amazonize' $400 billion in state bids across India

Prime Minister Narendra Modi plans to maneuver all government purchases, from paper clips to power station turbines, to Associate in Nursing Amazon-like on-line marketplace that would eventually be price a fifth of the country’s $2 trillion economy.

Modi’s government, that on Gregorian calendar month. eightproclaimed a fulminantcallto exchangeeighty sixp.cof India’s benefit a bid to chop corruption and move to a cashless economy, has a lot of riding on the new on-linemarket, that has already listed 390 million rupees ($5.7 million)
since it began in August.

"This provides Bharata chance for transformation,” same Rita Teaotia, the highestfunctionary in India’s commerce ministry. "The transparency and aggressivenessit's brought is extremely encouraging soso much we’ve seen that the government’s savings ara minimum oftenp.c on eachdealing."

The portal is predicted to support trades pricetwentyp.c of India’s gross domestic product once all state governments, state-owned corporations, utilities, defense and railways come backon-line, same Vishal Singh, furtherdirector at the National e-governance division, thatcame upon the platform.

But with solelytwentyp.c Indians ready to access the web, the govt. -- India’s biggest leader -- faces the challenge of coachingemployees across the country to use the digital marketplace. Departments as numerous as finance, municipal companies, police, hospitals and post offices, some situated in villages wherever regular power failures createwebaccess tough, ar expected to be concerned.

It is designed to depart a digital paththat maypermitunprecedented openness during a nation stratified 76th on Transparency International’s 167-nation corruption index. official delays and corruption were cited as among the largestobstacles to business in Bharat by the planet Bank’s 2014 Enterprise survey.

Also Read: however Modi's Flipkart-like on-line marketplace for statecan work

The e-market is at the middle of Modi’s key reforms: ‘Digital Bharat,’ aimed toward increasing the benefit of doing business within the notoriously red tape-heavy country, ‘Make in Bharat,’ that seeks to spice up the domestic producingtrade, and conclusion, that is trying to tackle unaccounted money and corruption. Modi, whose cupboardassigned $16.5 billion in Dec.
2014 for a three-year digital push, wants the decide to sustain India’s seven percent-plus rate.

Training, Learning
At the National Institute of economic Management on the outskirts of India’s capital, Ram Niwas Sharma and his fellow students ar among the weekly batches of state staff learning to use the govt. e-Market.

“It’s lots like Amazon.com,’’ says, 54-year-old Sharma worker of a state-run engineering faculty in Indian capital.
“And it’s a lot of easier compared to our current system, a lot ofclear.’’

The platform isn’t terriblytotally different from Amazon or its native rivals Flipkart or Snapdeal in look or style, permitting users to settle on from merchandise listed aboard photos and careful specifications. It even permits them to checkcosts offered on the marketplace with those on rival websites. What differs, though, is that the scale and scope of modification it will bring.

Changing Rules
The Indian government presently uses a young system to shop for everything from paper and cars to defense instrumentality. This restricts patrons to native suppliers and permitsdoablevalue manipulations or cartelization, in step with Binoy Kumar, highfunctionary at the board General of provides and Disposal that handles state purchases priceone hundred billion rupees during afinancial year.

The new system permits vendors across Bharat to bid for any government purchase. India’s finance ministry modifiedrules to permit payments insideten days of the acquisition, a move that may free suppliers from the typical wait of concerning2 months for recoveries or harassment from corrupt officers.

“Allegations of petty corruption won’t arise,’’ Kumar same in Associate in Nursing interview. “Especially since you’re not limiting anyone from registering. We’re democratizing the wholemethod.’’

Biometric knowledge
For 46-year-old Rajesh Kohli, United Nations agency works for a Delhi state hospital, shopping for on the web sitefrees up time however raises fears of misuse of his biometric knowledge.

Everyone exploitation the portal is needed to register their personal mobile numbers and Aadhaar biometric cards. Aadhaar, issued by the distinctive Identification Authority of Bharat, captures personal details together with fingerprints and iris scans. India’s Supreme Court has prohibited the from creating the distinctive identity program obligatory and is presently hearing cases difficult its constitutionality.

“The system needsa private vouch. That scares U.S.A.,’’ same Kohli. “Earlier we tend to acted on behalf of the department. currently it’s our personal details for each purchase.’’

Scaling Up
But there's concern that the move won't be enough to end the country’s rampant corruption.

“India cangot toguarantee security of the massive amounts of knowledgethis maycreateoffered and we’re undecidedthe govt. is absolutelytuned in to the pitfalls,’’ sameavatar Nath Jha, Delhi-based executive, Transparency International Bharat.


http://www.kyakru.com/2016/12/modi-to-amazonize-400-billion-in-state.html
 

Latest Replies

Global Defence

New threads

Articles

Top