Budget reiterates the Govt intent to accelerate digitisation in economy: DBS Bank India

Additionally, encouraging measures for start-ups should boost digital entrepreneurship as well as efforts to increase digital literacy particularly in rural India will strengthen the Digital India transformation process.

Jul 05, 2019 02:07 IST India Infoline News Service

The Union Budget reiterates the Government’s intent to accelerate digitisation in the economy. Incentivising digital transactions through measures such as a 2% levy on cash withdrawals from bank accounts above a cumulative one crore per annum threshold and reduced merchant discount rates can structurally change adoption levels. 

Additionally, encouraging measures for start-ups should boost digital entrepreneurship as well as efforts to increase digital literacy particularly in rural India will strengthen the Digital India transformation process.

- Surojit Shome, General Manager & Chief Executive Officer of DBS Bank India

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