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#1
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The cost of cash in India
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#2
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Re: The cost of cash in India
Look at who has published the report. They are just doing it when the loha is garam with the Jan Dhan Yojna. A lot of companies come up with studies which are indirect sales efforts plus some image building.
Per transaction, electronic transactions may be cheaper, but there is an initial set up cost. Probably with some lower cost items like a card reader that fits to your smartphone, we might see sabziwalas also using cards. Plus you have all the commission MasterCard or visa charge ( which may be way over 9 cr in Delhi) A number comparison would be very difficult, otherwise MasterCard would also have done that. One thing to note is that a lot of merchants prefer cash to avoid paying taxes.
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This is quite a game, politics. There are no permanent enemies, and no permanent friends,only permanent interests. - Some Firang |
#3
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Re: The cost of cash in India
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How much is the initial setup cost ? One sees the guys at the petrol pump with those hand held devices for debit/credit card payments. |
#4
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Re: The cost of cash in India
Jandhan bank acc will help disburse salary to low wages earner. Mazdoor traveling from ghaziabad noida haryana to delhi in trains for work were looted easily on first few days of the month when they carry their salary.
Other benefits are obvious.. A huge pool to insure and 1 lakh rupees in case of accidental death. Tax filing even for no returns. |
#5
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Re: The cost of cash in India
Still I don't see electronic transactions at the micro level. I mean, it takes more time comparatively.
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#6
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Agree butt....
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THis is the worse half of an ex banker speaking here
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This is quite a game, politics. There are no permanent enemies, and no permanent friends,only permanent interests. - Some Firang |
#7
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Re: Agree butt....
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Mobile banking may create a huge problem for micro-payments because nowadays they require an OTP (One time password) which is SMSed to you. Unless they make do only with the PIN, it will increase the headache. Otherwise it is a great idea. |
#8
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Re: The cost of cash in India
Electronic transactions will come in time. Just like when working at Toyota I asked a Jap bigshot Manager we don't have roads and traffic sense in India where will Camry and Corolla and other cars run .. He said all over world cars come first then the roads.
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