Resounding Success of Pradhan Mantri Jan-Dhan Yojana: But Can You Spot The Elephant in The Room?

More than 422 million accounts opened under PMJDY have proved to be a boon for the poor and vulnerable households. Transfer of government support, especially during the pandemic, has been quick, efficient, and transparent, compared to the pre-2014 era. However, looking at the ever-increasing deposits, a few questions arise about the last-mile infrastructure, awareness among the beneficiaries, and targeting of the unbanked households by the banks post the first phase. These could only be answered with more data being in the public domain. We will continue to track this space and provide relevant updates in future articles.

Making Sense of UPI Transactions

UPI has seen a phenomenal growth in transactions since its launch in 2016. The potential to democratize digital payments is immense. However, some more work on awareness generation, and basics about the benefits and risks associated with digital payments can go a long way in increasing the use among low-income population and small merchants.

Humanitarian Crisis and Economic Revival – Role of Social Protection Payments

COVID-19 has impacted the world economy in an unprecedented way. As a result, big corporates, small and medium enterprises, and micro businesses are struggling for survival. Daily wage earners, laborers, taxi and auto-rickshaw drivers, contractual laborers, and gig workers are staring at an uncertain future because of loss of livelihoods. Government of India and severalContinue reading “Humanitarian Crisis and Economic Revival – Role of Social Protection Payments”

Financial Education: Necessity, Compulsion, or Fad?

Paytm customer from Mumbai loses ₹1.7 lakh in KYC fraud case, kingpin from Jamtara. Man duped of Rs 4 lakh by fake customer care of a food delivery app… These are not just news headlines; these reflect the knowledge-gap amongst users regarding financial services, especially the users of digital/electronic technology to conduct financial transactions. The rapidContinue reading “Financial Education: Necessity, Compulsion, or Fad?”