Time: Saturday, October 17, 4:00 PM to 5:30 PM (IST)
 
In Conversation:
 
1. Mr. B. Sambamurthy
Independent Director, National Securities Depository Limited
Governing Council Member, Insurance Information Bureau of India
Former Chairman of National Payments Corporation of India as RBI Nominee

2. Professor Amol Agrawal
Assistant Professor, Amrut Mody School of Management
Ahmedabad University
 

Abstract:

Cashless Society – along with the Paperless Office and the Driverless Car – has been that mythical promised land; always slightly out of reach; always just a ‘few years away’. Will we continue to chase this dream, or are we finally getting there? To a world of digital payments and an official digital currency – Central Bank Digital Currency?
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.  We will discuss the policies needed from the government and the RBI to push digital payments. Will the issuance of a CBDC from the RBI finally take us to the promised land?