Your credit-debit cards to go invalid soon..know why

National | Jan. 8, 2017, 5:31 a.m.

New Delhi: After Note ban, Central government has promoted digital transaction. According to NITI Ayog's chief executive officer, Amitabh Kant predicted that in two and half years, the concept of debit, credit cards and ATMs will be redundant in India.


He said almost all the Indians will be doing bank transactions in less than 30 seconds with the help of their thumb impressions in the near future.


"People in rural areas can adapt more quickly to such technology than the literate individuals in urban areas," he said. Speaking at the session held as part of Pravasi Bharatiya Divas, he said that "Development of disruptive financial technology solutions and social innovation will "allow India to leapfrog into the future."


News24Bureau

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