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Digitalization is a buzz word of this time. Especially in the advent of demonetisation exercises, cashless economy, e-money, e-banking etc. are in vogue. It seems a hard nut to crack, but needs to be embraced as a blessing in disguise. Critics point out an umpteen practical difficulties in achieving absolute digitalization of the economy owing to many reasons. It is a fact that rural India is lost in woods as only 8.8 % of the population can use PC, smartphones, an NSSO based study says. However, application of IT has to be explored at the maximum extent to ensure fast, transparent and hassle free buying of people.
The e-way of transaction – New age options
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PAUL V MATHEW
PROGRAMME MANAGER
SDC TMJM COLLEGE MANIMALAKKUNNU
ERNAKULAM DISTRICT
Even while understanding the ground realities and the flowed execution of demonetization, it is the time to switch to digital economy keeping in mind the sustainability of economy and governance. We cannot simple ignore the demographic dividend of the country and the rate of penetration of mobile phones.
‘Mann ki Baat’ radio address of the Prime Minister Narendra Modi and subsequent tweets by his office titled ‘My mobile. My Bank. My wallet’ urged common public for migrating to alternative payment modes.