18 October 2018

How Demonetisation Digitalised India's Economy

Capgemini and BNP Paribas's World Payments Report - 2018 (PDF) on how demonetisation digitalised India's economy:
# The Indian Government's demonetisation program resulted in the world's second-highest growth in non-cash transactions (33.2%).
# India is forging ahead of its peers - as open banking, P2P lending and demonetisation KRIIs (Key Regulatory and Industry Initiatives) take hold.
# India is expected to overtake Australia by 2018 and Canada by 2019 - and become the #9 country in the world (in the number of non-cash transactions).
# The government's financial inclusion measures have led to higher adoption of debit and prepaid cards.
# Debit cards contributed the highest growth of 76.2%.
# Credit card volumes grew by 38.1% - compared with 27.8% in 2015.
# The number of payments via mobile wallets increased by 75.5% in 2016.
# The financial literacy program Jan Dhan Yojana led to a 27% increase in financial inclusion during 2014-16.
# Initiatives to note include the development of an open API stack - a set of APIs that enable governments, businesses, startups and developers to use a single digital infrastructure to provide remote, paperless, cashless and consent-based service delivery.
# Other aspects to note include a push for digital payments through demonetisation efforts including the Bharat QR code & Aadhar Pay and growing demand for e-wallets.
# The National Payments Corporation of India's (NPCI) efforts to bring digital payments into the mainstream and financial inclusion measures by the government are driving India towards increased digital transactions.

09 October 2018

India's #MeToo Movement

INDIA'S #MeToo MOVEMENT

For a long time, a man could do anything to a woman if he had money or power (or both). So a lot of rich/powerful men did a lot of wrong things to a lot of women - and kept getting away with it. This has been a great evil in our society. Now - after all these years of Adharma - finally Dharma seems to be coming. Everybody has started talking about the problem and - more importantly - the victims have started exposing their abusers. Hopefully this is the beginning of a process that will deliver justice to the victims and punishment to the culprits. Hopefully this will bring an end to rich/powerful men abusing women and getting away with it. From now on at least, let all men treat all women with respect - if not out of decency, then at least out of fear . . .

यत्र नार्यस्तु पूज्यन्ते रमन्ते तत्र देवताः।
यत्रैतास्तु न पूज्यन्ते सर्वास्तत्राफलाः क्रियाः।।

yatra naaryastu poojyante ramante tatra devataah ।
yatraitaastu na poojyante sarvaastatraafalaah kriyaah ।।

Where women are worshipped, there the Gods are happy ।
Where women are not worshipped, there all work is useless ।।

- MANU SMRITI [3.56]