India’s digital payments Catch-22 in 2021
Arundhati This is a great article that serves to show the complete lack of thinking on the part of RBI. I am still trying to understand the purpose of NUEs - entities that will operate a payments network without being neutral ombudsmen, but who must preserve interoperability, and are meant to be for-profit enterprises that will compete with a "FREE" public utility (with which many of these NUE aspirants are associated either through part ownership or extensive usage). And all to expand the government's dream of a fully digital India ? Seriously? Only in India! You are very right in drawing the conclusion that the resulting chaos may undo any digital gains the country has enjoyed so far.