Sunday, 17 April 2016

India's Audacious Plan to Bring Digital Banking to 1.2 Billion People

http://www.bloomberg.com/news/articles/2016-04-10/india-s-audacious-plan-to-bring-digital-banking-to-1-2-billion-people
Ten of the India's biggest banks along with the Reserve Bank of India have just launched a Unified Payments Interface (UPI) — a mega app that will sit on your smart phone once you have downloaded it and dramatically reduce the cost and time taken for making simple payments. What's more, you can use this app to pay for any transaction below Rs 1 lakh, even something as low as Rs 50. 
Raghuram Rajan has just turned your smartphone into a bank, here is how you can use it

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