Demonetisation is the whatsapp moment of the current financial system says Axis Bank’s Executive Director, Rajiv Anand. He is not just bullish on its impact but also expects it to transform how people of all pay-scales and economic strata emerge digitally aware, smarter and less vulnerable.
Speaking at the Digital Women Awards, Anand reflects on the changing nature of business and the rise of digital payments. For someone who has done tremendous ground work in tech and banking, he observes that demonetisation will not only benefit ecommerce players in the long term but it will also instil better financial sense in those who are dealing with the unease and tediousness of the current cash crunch.
“We have built out a lot of a robust mechanism in India – national payments system, the wallet companies and of course debit and credit cards. We need to realize and be a less cash society going forward.”
In this talk he covers all key counts – impact on consumers, payment systems, banks and the economy.