Debit, credit cards, ATMs will be redundant in 4 yrs: Niti CEO


Team Udayavani, Nov 12, 2017, 9:19 AM IST

Noida: Niti Aayog CEO Amitabh Kant on Saturday said debit and credit cards as well as ATMs will be redundant in next three-four years and people will use their mobile phones for financial transactions.

He further said that with India being a country where 72 % population is below 32 years of age, it will have an advantage over other regions like the US and Europe in terms of demographic dividend.

“India will make credit cards, debit cards and ATMs technologically redundant in next 3-4 years and we all will be using mobiles for doing many transactions,” Kant said at Amity University Noida campus where he was felicitated with an honorary doctorate degree.

Kant said that India is the only country in the world with billion biometrics and as many mobile phones and bank accounts and therefore, in future, it will be the only nation which will make a lot of disruptions. More financial transactions will be done on mobile phones and this trend is already rising spirally, he said.

“India is growing at around 7.5 per cent per annum and it is an oasis of growth in the midst of a very barren economic landscape across the world but our challenge is to grow at even higher rates of 9-10 per cent,” Kant said.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

ED arrests man with ‘Chinese links’ in mobile apps fraud case

Vijaypura: Newborn baby found abandoned near canal

Pregnant forest guard beaten up by couple in Maha’s Satara, duo held; minister promises strict action

Mandya: Out on bail Hindu seer Rishikumar Swami demands closure of mosque; sparks row

Both lives and livelihood will be considered as K’taka govt to decide on COVID curbs tomorrow: Min R Ashoka

Delhi riots: Convict Dinesh Yadav gets 5 years in jail for setting house on fire

In Gorakhpur, Bhim army chief Chandrashekhar Azad to take on Yogi Adityanath


Related Articles More

ED arrests man with ‘Chinese links’ in mobile apps fraud case

Hospitalisations in Delhi during third Covid wave significantly lower than second: Govt

SC grants interim protection to Mamata’s poll agent in murder case

PM, Jugnauth jointly inaugurate, launch India-assisted projects in Mauritius

Ensure local body election in Ahmednagar conducted in “right earnest”: SC to Maha election panel

MUST WATCH

An injured monkey falling from an electrical wire in Dandeli’s bypass

video of professor principal brawl in madhya pradesh college

NEWS BULLETIN 20-01-2022

MASSIVE BLAST IN LAHORE, 3 DEAD

Robbery at Chincholi : Video viral


Latest Additions

ED arrests man with ‘Chinese links’ in mobile apps fraud case

Hospitalisations in Delhi during third Covid wave significantly lower than second: Govt

SC grants interim protection to Mamata’s poll agent in murder case

PM, Jugnauth jointly inaugurate, launch India-assisted projects in Mauritius

Ensure local body election in Ahmednagar conducted in “right earnest”: SC to Maha election panel

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.