The interview contains:
Two IDFC Bankers, Bharat and Sagar, were interviewed by Akriti Bhatia, the co-founder of Jan Ki Baat, on a number of issues, ranging from IPR to cashless technology. Bharat and Sagar spoke about the number of startups that approached them with their queries, post-demonetization. These companies are worrying about building a client base and acquiring financial, material support in the days past note-bandhi. Bharat and Sagar, both, talk about the possibilities of banking in the cashless age; a tablet is enough. No KYC is required, only a tablet and patience for 4 minutes is necessary to open account. Other documents required? None, except the customers Aadhar Card. This tablet will use biometrical system and the Aadhar number to transfer funds from one bank to another, making withdrawals and depositing activity easier.
The notion of digitalization has become synonymous with the Modi governments goalpost. Digital banking is one of the component of that plan, carving the path for a cashless age. There are multiple benefits of such a cashless future, revealing unaccounted money and nullifying the parallel, black economy being just one benefit. Paperless work and digital banking are some of the other benefits for a technologically-efficient India.
Management of personal life as well as professional would be easier to coordinate. The client-base would remain unaffected and would have had chances of expansion. A cashless future may truly be able to make India advanced, technologically and otherwise.