Cashless economy

The UAE has become the first country to grant a Stored Value Facilities (SVF) license to a cryptocurrency platform, allowing regulated digital asset payments. This landmark approval enables UAE residents to pay government fees using cryptocurrencies, integrating virtual asset payments into the nation's regulated financial system and bolstering its digital economy.

Academics from different parts of the country on Friday appreciated the role of media in promoting Cashless economy in the country.

At a time when Prime Minister Narendra Modi government is pushing hard for Cashless economy, the NITI Aayog on Monday requested the state to promote cashless transactions.

Traders from the city and the region will receive special training on becoming a part of the Cashless economy with the National Institute of Electronics & Information Technology (NIELIT) being roped in for the initiative.

100% Cashless economy not possible: CM

Chief minister K Chandrasekhar Rao on Sunday appointed a committee to promote Cashless economy and address hardships faced by people post-demonetisation.

The University Grants Commission (UGC) has asked universities across the country to focus on Cashless economy while celebrating National Youth Day on Thursday.

State-level workshop to understand various types of digital payment system was organized at Gandhinagar in the presence of Gujarat chief minister Vijay Rupani. In this context, Rupani expressed his commitment that Gujarat will be leading in Cashless economy and digital banking transactions.

Planning to observe August 15 as 'less cash day', Confederation of All India Traders (CAIT), an association of unorganised businessmen, will be holding a 40-day campaign to promote electronic payments, said a press release issued by the organisation.

The study also said that with India seeing a shift towards Cashless economy, the types of cyber security incidents like phishing, scanning, website intrusions and defacements, virus code and denial of service attacks will continue to grow.

Chief minister Vasundhara Raje on Saturday said that they started Bhamashah scheme for encouraging Cashless economy

Diwali marks the start of the new year Vikram Samvat 2074. On Thursday Gujarati, Jain and Maharashtrian businessmen will perform the Chopda Pujan where new account books called rojmel are sanctified for the new trading cycle.

Union Finance Minister Arun Jaitley has said the Modi government’s decision to withdraw Rs 500 and Rs 1000 notes will move the country towards a Cashless economy. He also attempted to reassure people that those who had lawful money would have nothing to fear.

After the Congress and other parties, it’s the turn of seers and Vedic scholars to denounce demonetisation. Cashless economy and demonetisation are against ‘dharma’, they claimed at a religious discourse held in the city.

At a time when the Centre is promoting cashless transactions with rewards and incentives, Union minister of state for finance Santosh Kumar Gangwar on Saturday admitted that it was not possible for India to become a fully Cashless economy.

Confederation of All India Traders (CAIT) has urged union finance minister Arun Jaitely to shift focus from corporate to non-corporate sector in the coming financial budget.

As the focus gradually shifted towards a Cashless economy, the following brief was floated: "Cash hua purana, ab digital ka hai zamana".

It is the time of yuletide spirit, of celebration and Santa Claus. Every year he comes with his bag full of goodies, but this time he was there to deliver a special message, one of adopting a Cashless economy.

Congress leader Shashi Tharoor accused Narendra Modi government for changing goalposts set for demonetisation. Speaking at the inauguration of a student union office at Law College, Rajasthan University on Monday, Tharoor said that initially government reasoned that the move will curb terrorism, black money and corruption and shifted the goalpost to Cashless economy.

International credit and debit card players which have been pushing for plastic money backed the government's decision to scrap high-value bank notes. Visa International said the move will accelerate the economy towards a Cashless economy.

Demonetisation and the center’s drive to push for a Cashless economy has seen a sharp surge in the number of people enrolling for Aadhaar. Here’s a look at the Aadhaar numbers for India, month-wise enrolments as well as by state.

"The Aadhaar-enabled transactions are card-less and pin-less. This would enable mobile android phones users to digitally transact using their Aadhaar number."

The move — for which a Cabinet note has been circulated — is in line with demonetisation and also aimed at ensuring that workers are paid the minimum wages stipulated by the Centre and states, senior government sources told TOI.

The RBI has cleared a Unified Payment System – a platform which links bank account numbers to virtual payment addresses (aliases). The UPI-enabled app in effect turns a smartphone into a bank and has come as a boost to a Cashless economy.

Be it on a TV channel or on radio, everywhere the Prime Minister is extolling the virtues of Cashless economy. The frequency of ads promoting the use of debit and credit cards, net banking and e-wallets is testimony to the massive investment being made by the Centre to realize the idea of a cashless society.

Arvind Kejriwal-led Aam Aadmi Party on Friday said that the demonetisation of Rs 500 and Rs 1000 denomination currency notes by the Narendra Modi-led central government has weakened India's economy.

Prime Minister Narendra Modi’s push for a Cashless economy seems to have suffered a setback with the All India Petroleum Dealers Association deciding to stop accepting payments through credit/debit cards from Monday in view of the debit of Merchant Discount Rates (MDR) on fuel transactions of 1%.