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

Amitabh Kant

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

digital unlocked by sundar pichai

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.

GoogleMyBusiness

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.

Complete step-by-step process of using BHIM App for making cash transactions

BHIM Cash back Merchant

Urging people to make a Digital Payments, Prime Minister Narendra Modi on Friday launched the mobile BHIM App. To make India a cashless economy, the government introduced BHIM application for the UPI (Unified Payment Interface).

Within 48 hours of being launched by the PM, the BHIM App became India’s most popular and got more registers on the Android app. It is said that it’s the toughest rival to popular E-wallet Paytm. This application allows the user to make simple Digital Payments directly from their bank account. Here from this page, people can get the BHIM App Complete Guide.

UPI to be available offline to make digital payments

What is BHIM App?

BHIM stands for Bharat Interface for Mobile. Anyone can send to request the money through this BHIM App in a process to make digital payments. The app linked with the user bank account and there is no need to load the money, unlike other mobile wallets.

The merchant does not have to bother about the transferring the money into their bank accounts. People can download the BHIM App on the Google Play to start using the free Android app.

Currently, the BHIM App is available to download on Play Store, and it will soon roll out for the iOS devices. Don’t confuse about the Process to transfer money and receiving the amount. We have furnished the step by step Process to transfer money on this page.

How to download BHIM App and Process of using BHIM App Explained In Detail

How to use BHIM App ?

  • After downloading the BHIM App, users have to register their bank account through the app.
  • Set the UPI PIN.
  • Your mobile number is the permanent address, and you start transacting.
  • Through this App, individuals can send or receive money and check balance.
  • By scannig the QR code, People can make the Digital Payments without using their phone number.
  • Using this UPI based BHIM App, you transfer money to Non-UPI banks through IFSC like normal net banking.

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Process to transfer money using Bhim app
  • First of all, users have to login into the app with the UPI Pin which you have set during the signup process.
  • Click on the ‘Send Money’ option.
  • Now you have to add the UPI address of the person to whom you want to transfer the amount.
  • Enter the amount that you want to send.
  • Tap on the ‘On Pay’ option and your money will instantly transfer to another account.
  • Done with the transfer of money.

NITI Aayog Introduces Rs 1 Crore Lucky Draw to Promote Digital Transactions

Niti Ayoyog big bounty program

With a mission to promote digital transactions, Government has announced the new policy on Thursday. The National Institute for Transforming India (NITI) Aayog is a government policy think-tank which was introduced by PM Modi. It is a lottery with daily weekly and mega awards for consumers and merchants.

In a bid to encourage a transition to digital payments, the government introduced this policy. According to the reports, the awards will offer in two schemes. One is the Lucky Grahak Yojana for consumers and the second scheme is Digi Dhan Vyapar Yojana for merchants.

Rs 10 for Digital Transactions: Government is Looking to Provide Inducements to Boost Cashless Digital Payments

Both the schemes will come at an estimated cost of Rs 340 crore and Cover small transactions between Rs 50 and Rs 3000. In the wake of scrapping the old 500 and 1000 currency notes NITI Aayog has asked National Payments Corporation of India (NPCI).

It expected that only five percent of the population make digital transactions and rest use only cash. The CEO of NITI Aayog, Amitabh Kant said, “Our objective is to make digital payments a mass movement. Beginning December 25, the NPCI will announce 15,000 winners of 1000 rupees for the next 100 days. It will be a Christmas gift to the nation.”

The first draw commenced on 25th December, and the NPCI will announce the 15000 winners who will get Rs 1000 each day for next 100 days. And also there will be 7000 weekly awards for each merchant and consumer.

Government Starts to Aid Aadhaar Based Transactions through Mobile Phones

On the occasion of Dalit icon Dr B R Ambedkar birth anniversary, the mega draw will be held. In this mega draw, consumers can win one crore, 50 lakh and 25 lakh. And the merchants can win 50 lakh, 25 lakh and 5 lakh amount.

Those who pay using government issued RuPay, USSD, UPI and Aadhar-Enabled Payment systems are eligible for National Lucky Draw Scheme.

Prime Minister, Narendra Modi had made a sudden announcement of banning 500 and 1000 rupee notes on 8th November to stop the black money. The government introduced cashless economy which is next big step to battle against corruption.

Rs 10 for Digital Transactions: Government is Looking to Provide Inducements to Boost Cashless Digital Payments

Rs 10 for Digital Transactions

The government of India is looking for some possible ways to reduce cash crux in our country, and as a part of that it has come up with a new scheme. Central Government is looking to provide Spurs to the district administration to boost digital payment systems across districts, panchayats, and Talukas in India.

As per the scheme, Rs 10 will use for digital transactions. Rs 10, will be given to the district administration for every individual who has moved to digital payment mode and has made at least two purchases for daily activities like buying or selling goods.

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A Government official said, “NITI Aayog has registered a series of encouragements for the communication campaign for the district authorities and administration to help the transition to the cashless digital payments systems.”

NITI Aayog will provide logistic support for outreach activities at the district, taluka and panchayats at a level in the form of the seed money of Rs 5 lakh per district administration as a part of the communication campaign. The purpose is to develop sowing of mobile and Aadhar numbers to the bank account, issuing Rupay cards, issuing PIN when necessary, Download app and make two transactions.

NITI Aayog said that the top ten best performing districts would be awarded the Digital Payment champions of India while the first 50 panchayats, which go cashless, will be granted Digital Payment Award of Honour.

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Meanwhile, BJP leaders of Delhi visited markets and residential colonies in the city to motivate people by telling the importance of cashless transactions. At Mukherjee Nagar, BJP Delhi President, Manoj Tiwari bought a shirt through a banking app during the ‘My mobile-my bank-my wallet.’

Union Minster Harshvardhan and Vijay Goel also went to the public places in Tri Nagar and Karol Bagh to encourage people. Making comments on opposition parties, Manoj Tiwari said, “In 1980, when the computer came it was stated that the unemployment would grow. In 1995, when mobile phones came, everyone took them as a luxury. Now, in 2016, when Modi is promoting mobile banking, it is said that it will hurt the trade, but the truth is that the mobile banking uprising will bring economic growth for all.”