Indian Economy: News and Discussion

sorcerer

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Digital transactions total Rs. 131 lakh crore in Q1: Worldline India

IBEF: June 11, 2021


On Thursday, Worldline India stated that between January and March 2021, digital transactions volume in India stood at 93.7 crore, valued at Rs. 131 lakh crore (US$ 1.79 trillion). At the end of the first quarter of CY21, the total number of debit cards totalled at 89.8 crore and credit cards at 6.2 crore. The point-of-sale terminals stood at 47.2 lakh.

In terms of volume, the debit card transactions stood at 110 crore, valued at Rs. 1.91 lakh crore (US$ 26.14 billion). Credit card transactions stood at 52.4 crore in terms of volume, valued at Rs. 1.97 lakh crore (US$ 26.96 billion). In terms of volume, mobile based payments stood at 832 crore, valued at Rs. 31.9 lakh crore (US$ 436.59 billion). Of which mobile wallets transactions stood at 113 crore in terms of volume, valued at Rs. 41,175 crore (US$ 5.64 billion).

Unified Payments Interface (UPI) registered > 273 crore transactions in March 2021 and was valued > Rs. 5 lakh crore (US$ 68.43 billion). In Annual Report for FY21, the Reserve Bank of India (RBI) stated, digital payment systems registered significant increase of 26.2% in terms of volume on top of the growth of 44.2% in 2020.

Mr. Deepak Chandnani, Managing Director of Worldline South Asia and Middle East, said, "This evidently signifies the rising consumer confidence towards digital payments in tier I, tier II as well as tier III and beyond. The pandemic may have forced consumers to adopt digital mode of payments. However, improved and advanced digital services would ensure the rising trend of digital payment consumers and growth of further digital payments.”
 
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TakAman

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For those who say Indian coties should be like china, lol.
Even Lots of Slum (LOS) Angeles is no different.

Have a look at how the downtown area there looks like:


Homelessness, poverty, rapes, etc are everywhere. It's only Indian media which shows negative image of itself and foreign media which only shows India's poverty and their development.
 

sorcerer

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India to get its very first subscription-based airline


The airline industry in India is looking forward to a new beginning with a new flying model by Prince Air. The carrier is soon going to be India’s first subscription based airline. Yes, you read that right. By this we mean that you can fly multiple times for a monthly subscription. Kind of like subscribing to an OTT platform.

Prince Air’s Founder, Sanket Raj Singh said that passengers subscribing to this new model will be able to enjoy a privileged experience, far different from the regular check-ins we have to go through at airports. It will be similar to owning your own private jet, an experience that will make you feel special. Singh said that passengers will be required to arrive half an hour before the departure time, and entry will be from a separate gate, unlike the rest of the passengers. You can even arrange a car in order to make a quick exit from the airport.

 

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India far ahead of US in financial innovation: American lawmaker


"India is among the fastest-growing FinTech markets in the world. In fact, India processed nearly 10 billion more real-time payments than China in 2020, USD 25.5 billion, versus USD 15.7 billion for China," Daines said.


He said that compared to India and China, the United States processed just USD 1.2 billion of real-time payments.


Darrell Duffie, the Adams Distinguished Professor of Management and Professor of Finance at Stanford Graduate School of Business, agreed during the testimony.


"At this stage, the United States has fallen behind even India and China with respect to digital currency technology. And the competition for commercial services internationally is very important," Duffie said.

 

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Forex reserves cross $600 billion mark for first time - Times of India
PTI / Jun 11, 2021, 18:48 IST

1-2 minutes


MUMBAI: The country's foreign exchange reserves crossed the $600 billion mark for the first time after increasing by $6.842 billion in the week ended June 4, RBI data showed on Friday.
The reserves surged to a record $605.008 billion in the reporting week, helped by a rise in foreign currency assets (FCA), a major component of the overall reserves, as per weekly data by the Reserve Bank of India (RBI).

 

FalconSlayers

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Even Lots of Slum (LOS) Angeles is no different.

Have a look at how the downtown area there looks like:


Homelessness, poverty, rapes, etc are everywhere. It's only Indian media which shows negative image of itself and foreign media which only shows India's poverty and their development.
The video I shared, vs the video you shared, difference is huge...!!! In China those innocents were made to lose their houses because their government stole the land and didn’t gave them compensation or any alternate place to live totally inhumane dictatorship, in USA the poor were allowed to live like that unless and untill the government accommodations don’t get completed which is democracy.

And you’ll see chinks on Porkistani defence forum claiming being better than democracy and all that stuff. In USA no one stopped them for filming it, while in china they were stopped multiple times to film the ugly side of USA.

Proud to be a citizen of a democratic country.
 

TakAman

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The video I shared, vs the video you shared, difference is huge...!!! In China those innocents were made to lose their houses because their government stole the land and didn’t gave them compensation or any alternate place to live totally inhumane dictatorship, in USA the poor were allowed to live like that unless and untill the government accommodations don’t get completed which is democracy.

And you’ll see chinks on Porkistani defence forum claiming being better than democracy and all that stuff. In USA no one stopped them for filming it, while in china they were stopped multiple times to film the ugly side of USA.

Proud to be a citizen of a democratic country.
Beggar defence forum has become a hate-India forum, more than a Pakistani discussion forum.

India is discussed more than China, Pakistan, etc. As they say, when people start hating you more, you must be doing something better.

Sad part is that, Pakistanis are spreading their education, their Islam-ruled-India fake superiority complex more often with these platforms, and with the coming of internet. And spreading pure hate against Indian culture, our practices, etc.

This is what Pakistani books teach you about hinduism:


Now this is the same thing which is seen on beggar defence.

India does need a strict plan to counter this anti-India propaganda on these and many other online platforms as internet is becoming more and more important.

For Chinese mocking India, I doubt if they are actually Chinese. Beggar defence forum is banned in China. And I am sure that 90% of its citizen can't locate Pakistan on world map.

Mostly they are fake profiles made by Pakistanis to make fun of Indians.
 

DG7867

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Billionaires can afford a private jet, middle man fears even economy class tickets.

South Korea and TWN have per capita income of 20 K USD plus, 10x more than Bangladesh.
Even there, bullet train runs on a loss including China and JPN:
Which is why I said it's a viable option 20 years into the future, not now. 20 years from now, Bangladesh will be at the same stage as Taiwan and S Korea is today, whether you like it or not. For that time, there's a strong case for HSR.

Bullet trains and maglevs are not an effective solution. They cost a lot and not recommended for middle income nations.

Even USA never made a HSR.

Bangladesh should wait for Hyperloop if it wants to revolutionize its railways which promises to be a far better/cheaper and safer solution:
There are many misconceptions about price of bullet trains. In reality, they are roughly of same price as economy-class flight tickets for comparable distances (Ex. bullet train ticket between Mumbai-Delhi would cost the same as economy class flight between Mumbai-Delhi, though bullet train may take slightly longer than flight). This I'm also saying from personal experience.

Why waste billions of dollars for 4G when 5G is around the corner !!
I could use the same words to make an argument that putting money into Tejas Mk1a & Mk2 is useless, instead we should focus on AMCA. Point being, hyperloop will take few more decades to mature to be financially cost-effective.
 

Edinburgh

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The video I shared, vs the video you shared, difference is huge...!!! In China those innocents were made to lose their houses because their government stole the land and didn’t gave them compensation or any alternate place to live totally inhumane dictatorship, in USA the poor were allowed to live like that unless and untill the government accommodations don’t get completed which is democracy.

And you’ll see chinks on Porkistani defence forum claiming being better than democracy and all that stuff. In USA no one stopped them for filming it, while in china they were stopped multiple times to film the ugly side of USA.

Proud to be a citizen of a democratic country.
In China, the demolition of households means multimillionaires. You can go to other places and ask the Chinese.Can go to other places to ask the Chinese people, do they want their houses to be removed, it is estimated that dream of.


There are nails houses everywhere in China,Most people admire them, but they have no sympathy for them. They are all greedy people,China's demolition is a negotiation between developers and householders on the amount of compensation,If you stick to it, you may need a lot of money, but it is also possible for developers to modify the planning and not demolish your house,The owner would be embarrassed.
 

TakAman

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In China, the demolition of households means multimillionaires. You can go to other places and ask the Chinese.Can go to other places to ask the Chinese people, do they want their houses to be removed, it is estimated that dream of.


There are nails houses everywhere in China,Most people admire them, but they have no sympathy for them. They are all greedy people,China's demolition is a negotiation between developers and householders on the amount of compensation,If you stick to it, you may need a lot of money, but it is also possible for developers to modify the planning and not demolish your house,The owner would be embarrassed.
Agreed, but it is always and rather mostly not a peaceful negotiation.

It is like someone trying to put a gun on your face and asking you to take the money and leave. The same is well captured in the video.

Also, forced land evictions make up 65% of all protests in China:


If these are so peaceful and only make millionaires, why so many protests !!!
 

FalconSlayers

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ezsasa

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Digital transactions total Rs. 131 lakh crore in Q1: Worldline India

IBEF: June 11, 2021


On Thursday, Worldline India stated that between January and March 2021, digital transactions volume in India stood at 93.7 crore, valued at Rs. 131 lakh crore (US$ 1.79 trillion). At the end of the first quarter of CY21, the total number of debit cards totalled at 89.8 crore and credit cards at 6.2 crore. The point-of-sale terminals stood at 47.2 lakh.

In terms of volume, the debit card transactions stood at 110 crore, valued at Rs. 1.91 lakh crore (US$ 26.14 billion). Credit card transactions stood at 52.4 crore in terms of volume, valued at Rs. 1.97 lakh crore (US$ 26.96 billion). In terms of volume, mobile based payments stood at 832 crore, valued at Rs. 31.9 lakh crore (US$ 436.59 billion). Of which mobile wallets transactions stood at 113 crore in terms of volume, valued at Rs. 41,175 crore (US$ 5.64 billion).

Unified Payments Interface (UPI) registered > 273 crore transactions in March 2021 and was valued > Rs. 5 lakh crore (US$ 68.43 billion). In Annual Report for FY21, the Reserve Bank of India (RBI) stated, digital payment systems registered significant increase of 26.2% in terms of volume on top of the growth of 44.2% in 2020.

Mr. Deepak Chandnani, Managing Director of Worldline South Asia and Middle East, said, "This evidently signifies the rising consumer confidence towards digital payments in tier I, tier II as well as tier III and beyond. The pandemic may have forced consumers to adopt digital mode of payments. However, improved and advanced digital services would ensure the rising trend of digital payment consumers and growth of further digital payments.”
how come cash flow thru digital transaction itself is 1.7 trillion $ in one quarter, and total GDP is 2.8 trillion $?
:hmm:

D22D1C76-D4BE-4E3A-ADF8-EBA9F93429A7.jpeg
 

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