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Niti Aayog CEO Amitabh Kant: ATMs, Credit and Debit Cards to Disappear

While India is gearing up for more digital, the technology applications are at an accelerated pace. This move could lead to more digital transactions through various modes. This may include mobile wallets and bio-metric modes and disappearing credit and debit cards as also ATMs.

“Technology will be a key driver of India’s growth. Physical banking in India is almost dead, and it is adopting pervasive technologies with such an accelerated pace that in next three to four years, the digital transactions would move through the mobile wallet and biometric modes. Credit cards, debit cards, and ATMs will disappear,” says, Niti Aayog CEO Amitabh Kant while launching the Trade and Investment Facilitation Services (TIFS) of the Ph.D. Chamber of Commerce and Industry (PHDCCI) in New Delhi yesterday.

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Also, Mr. Kant said that India is growing 7.6 percent annually in spite of a very barren economic landscape across the world. He also said that the population in America and Europe is getting older while the population in India is getting younger. When asked about the ease of doing business, he replied that “we scrapped 1200 laws last year”.

Mr. Kant also expressed that, India was larger than 24 European countries and the states should appear as champions of growth. India would see more urbanization in the recent times and technology would play a key role in this.

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Google CEO Sundar Pichai Announced Digital Unlocked India for SMBs

Taking his promise to reality, Google CEO Sundar Pichai has attended an event in Delhi on January 4 along with Google India head Rajan Anandan and Minister of Electronics and IT, Ravi Shankar Prasad. All the three people shared the dais and gave a valuable speech about how the digital tools are helping Indian businesses and industrialists.

Pichai met Niti Aayog CEO Amitabh Kant last night where they talked about startups, interruption, digital payments, cricket, Bollywood and more. Amitabh Kant himself posted a tweet on his Twitter blog about what he discussed with Sundar Pichai when they met yesterday.

However, Sundar Pichai launched Digital Unlocked website, a new scheme to help SMBs in India, understanding of how online works and go digital. The online training gives and takes 90 training videos as well as eight-hour class room training Program along with FICCI.

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Pichai at an event said, “When I was grown up in Chennai information was rare. But now, due to the vast increase of internet, everything changed, and I specially thanks to the internet. Now, the internet is a powerful source, and we are inspired to bring the benefits of information and technology to as many as possible. Building for everyone and making it available in the hands of as many people are at heart and, we do this by investing in open systems.”

Information and Technology Minister Ravi Shankar Prasad also attended at Google Event in Delhi. Prasad asked Google to take care of cyber-security issues and reinforce those areas as soon as possible.

During his speech, Pichai made Walnut app as an example to define the benefits of it after the demonetisation. He said Walnut saw a massive growth from 2 million to 5 million users.SMBS will need to register on the Digital Unlocked website. Google had a workshop going on for dealings at the event itself and plans to certify 100 businesses by the end of the day.

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The big company Google has also initiated 5000 workshops in 40 cities across India. The new app called Primer will be available on ioS and Android in Hindi and English. Tamil, Telugu, and Marathi versions will be developed soon. The free App works offline, and it will also allow business owners to try out advanced and basic courses for doing digital on the go.


Google has also mentioned another initiative which is GoogleMyBusiness. Yes, through this Small and Medium businesses are listed on Google, even if they don’t have own websites. The company says already 40,000 SMBs are listed on the search engine already. The GoogleMyBusiness App will also help businesses to create their own website based on the data in the listing.

Government Starts to Aid Aadhaar Based Transactions through Mobile Phones

The Central Government is looking forward and taking necessary steps to reduce cash crux due to demonetization and make India as a cashless economy. As a part of that Government of India is planning to help Aadhaar enabled financial transactions through mobile phones.

Ajay Pandey, Director General of Unique Identification Authority of India (UIDAI), said, “Aadhaar-enabled transactions are card less and pin-less. So, make it easier for all it will introduce to Android users and they can digitally manage using their Aadhaar number and fingerprints/iris authentication.”

He also stated that the Government has already started efforts to implement Aadhaar enabled transactions which require a multi-split strategy which includes taking to mobile manufacturers, merchants, and banks. The move is part of achieving digital payments to reduce cash crunch.

Aadhaar app Ready to be Launched over the next Three to Six months first in Android and Apple phones

NITI Aayog CEO, Amitabh Kant said, “We are already contacting mobile manufacturers to see if mobile made in India could be in built with iris or thumb impression to aid Aadhaar enabled transactions.”He said that Government is rigorously working on a scheme to impediments cash transaction and increase digital transactions in the country, but he refused to share the estimation of the budget for this plan.

The Government is seemingly working on developing a common mobile app that can be used by shopkeepers and merchants for receiving Aadhaar-enabled payment transactions by passing credit and debit cards.

Meanwhile Information Technology Secretary Aruna Sundarajan said, the ministry has already kept Rs 100 crore aside to increase merchant enrollments on digital platform to move the drive.

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She also added, “The Ministry will undertake a major outreach message drive starting from Monday to ensure that every segment of the population is enables to use one of the other modes of digital payment”.

The 12 digit Aadhaar Number has already been issued to 1.08 crore people across the country and 99 percent adults have been covered. People can link their Aadhaar with their bank accounts and use Aadhaar-enabled transactions through mobiles.