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India is changing rapidly as a result of the digital revolution, which will have far-reaching effects on the country's economy and society. India is rapidly moving towards a cashless society because of the proliferation of digital payment methods and developments in financial technology. Increased Use of Electronic Payment Methods The government's push for digital payments, spearheaded by the "Digital India" project, has been the driving force behind this shift. This bold initiative has made great achievements in increasing internet access and smartphone penetration across the country, with the ultimate goal of empowering residents through digital technology. This has led to the meteoric rise of digital payment systems like the Unified Payments Interface (UPI), mobile wallets,...

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The Rate Of Poverty In Rural India Is Four Times That Of Cities: Survey

Sayani ChakrabortyNovember 2, 20220

Three recent agency reports revealed national poverty shortcomings. Due to the pandemic, poverty levels in India have climbed again and progress has halted. India's GHI ranking has dropped further due to massive economic destruction. Rural poverty is four times higher than urban poor, worsening the problem. Ignoring such a severe situation is risky for a government. The pandemic and Ukraine conflict have added 70 million people to extreme poverty, according to the World Bank's "Poverty and Shared Prosperity" study. India was hardest hit, losing roughly 25% of its GDP. Early estimates show 56 million more poor in 2020. This shows that government welfare programmes like the Mahatma Gandhi National Rural Employment Guarantee and free food have not offset the significant loss of livelih...

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Analysis Of Financial Technology And Its Latest Impact On Money Transactions

Sayani ChakrabortySeptember 20, 20220

Payment systems are being impacted by the technology transformation now taking place in the modern world. FinTech, short for "financial technology," is a term that refers to the ways in which new developments in this field are modernising outdated methods. The demands for digital banking, financial, and payment services have been pushed by the COVID-19 epidemic, just as digital technology has been and will continue to reshape payments, lending, insurance, banking, and more. The transition from brick-and-mortar banks to internet banking has had far-reaching effects on the ways in which consumers make purchases. This shift is being fueled by reasons including cheaper transaction processing, better security, and easier access to information via online banking and mobile apps. Payment alt...

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States Compete For Industrial Investment, Just Handful Emerge As Victorious

Sayani ChakrabortySeptember 15, 20220

There have been loud political battles in Mumbai since Maharashtra lost the Rs 1.54 lakh crore Vedanta-Foxconn semiconductor project to Gujarat. This, however, is smart politics. Such politics puts pressure on state governments to actively pursue private investment. Having employment, investment, and living standards become regular top-list concerns in party debates and voter attention will be even better for the political system. The PM's remarks sparked a national discussion over rival promises of freebies, which is the worst type of politics because, if freebies dominate policy thought in the present, the future would necessarily be dark. The good news is that certain governments are competing for high-stakes international investment despite freebie politics, and they are doing s...

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Ex-Telecom Minister Raja Sale Of 5G Spectrum: ‘Where The Money Gone?’

Sayani ChakrabortyAugust 5, 20220

Former telecom minister A. Raja has questioned "where has the money gone" in reference to enormous disparity between the amount earned from the sale of 5G spectrum (Rs 1.5 lakh crore) and the predicted income from it, alleging a "massive fraud" in recently finished 5G spectrum sales (Rs 5 lakh crore). Commencing on July 26 and ending on August 1, the 5G spectrum auction took place. The Hindustan Times reports that Raja questioned, "Where has the money gone?" on Thursday, August 4. What is the source of the error? This should be investigated by the present government. The UPA government's telecom minister, Dravida Munnetra Kazhagam (DMK) politician, was implicated in the suspected 2G fraud. While in opposition to the government, the BJP levelled a particularly vicious attack against Raja...