India
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Finance
Cardless Cash Withdrawals are Powering the Indian Payment Industry
The pandemic played an important role in boosting India’s payments sector making digital payments ubiquitous across the nation. Micropayments via UPI have become the norm across the length and breadth of the country. This unprecedented digital transformation got a further fillip with the recent RBI directive on interoperable cardless cash withdrawals at ATMs using UPI. A circular issued by the Reserve Bank of India (RBI) on May 19, 2023, stated, “All banks, ATM networks,…
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Cryptocurrency
India ‘s Largest Retail Chain Now Accepts CBDC
As more and more countries explore their own digital currency, central bank digital currencies (CBDCs) are gaining momentum. Today’s headlines show us that India is leading the charge, with Reliance Retail – one of the country’s largest retail chains – announcing its acceptance of CBDC payments in stores across the nation. This move signals a monumental shift toward a cashless society as we enter an era where digital money reigns…
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Finance
Here Are the Expected Growth Rates of Emerging Economies in 2023 and 2024
Morgan Stanley Investment Management confidently declared that emerging markets would be the main victor throughout this decade. This is due to their optimistic outlook for developing countries and comparatively low valuations compared to US equities. Jitania Kandhari, Emerging Markets Research Manager at Morgan Stanley’s Investment Management Unit, expressed enthusiasm about India specifically as she believes its growth rate far surpasses America’s potential. Emerging Aggressive Interest Rates of Central Banks Will…
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