The withdrawal of Rs 2,000 banknotes is likely to be a non-event as India has adopted digital payments on a mass scale, said SBI Research in its latest Ecowrap.
PM Modi said that this year's 'Civil Service Day' is very important as it is a time when the country has completed 75 years of its independence.
Similarly, replying to a Pravasi Bharatiya's tweet on the adoption of digital payments in India, the prime minister tweeted: "It is a common sight across India…our people have shown remarkable dexterity in adapting to tech and innovation."
The rapid expansion of digital infrastructure for over a decade, including the introduction of Aadhaar, and accelerated consumer adoption during the ongoing Covid pandemic had the country reaping benefits on the retail business side.
According to sources, the estimated number of employees laid off by Stripe is between 45 and 55. Reportedly, Stripe bought TaxJar in April 2021.
The Minister stated that the brief details of major Digital India initiatives, inter-alia, are at Annexure.
The index for March 2021 stands at 270.59 as against 207.84 for March 2020, announced while launching the index on January 1, 2021.
The provisions of these directions would apply to the Regulated Entities (REs)-- Scheduled Commercial Banks, Small Finance Banks, Payments Banks; and Credit card issuing NBFCs.
In recent months, the pandemic has accelerated the adoption of digital technologies and rapidly shifted how consumers prefer to shop and pay.
The applications of fintech are not only about digital payments but also feature a lot of other initiatives such as wealth technology, for instance, he noted.
