Digital payments have seen a rise lately, as many people have begun to pay digitally rather than by cash. COVID-19, the catalyst of all trends, has speeded up this transition to digital payments, as many people now avoid banknotes for fear of the virus. In India, unlike many countries, digital payments have been largely pushed by the government, rather than demanded by the people. What can accelerate adoption at the people level?
In this conversation, the speakers will look at the history, the present situation, and the likely future of digital payments in India. They will discuss the policies needed from the government and the Reserve Bank of India to push digital payments. Will the issuance of a CBDC from the RBI finally take us to the promised land?