India will make ATMs ,debit cards and credit cards redundant in four yearsThose things we keep in as prized possessions in our money purses-debit cards and credit cards- are going to be redundant in another four years along with the ATMs.
It is said by none other than Mr. Amitabh Kant, CEO of Niti Ayog, the new avatar of erstwhile planning commission. That is because people will use their mobile phones for financial transactions. That means paper money and plastic money will, give way for digital money.
He surprised us saying that in this we will be overtaking the US and Europe, because of the demographic advantage of having more than 72 per cent of people are below 32 years.
In any matter there will be some gainers and some losers. What is your opinion on this news? Who will gain? What changes will happen? How we will be cope up with new situation?