Government’s move has the additional long term structural impact: Fullerton India

This will be a step change in the way the economy operates. As an organization, Fullerton India has always been encouraging, and helping its customers migrate to cashless commerce, and provides a complete suite of capabilities supporting this initiative.

Nov 09, 2016 01:11 IST India Infoline News Service

We believe that the demonetization Rs 500 and Rs 1000 notes is a big and bold step forward in curbing the menace of black money in the Indian economy. This move has the additional long term structural impact of a more inclusive migration to a non-cash and potentially digital economy, and supplements the PMJDY in making banking more vibrant and relevant. This will be a step change in the way the economy operates.

As an organization, Fullerton India has always been encouraging, and helping its customers migrate to cashless commerce, and provides a complete suite of capabilities supporting this initiative. Technology and digital commerce will now be all the more relevant, which in the long term improves vibrancy, access and reduces transaction costs.

 
Anand Natarajan is Head of Strategy and Business Execution of Fullerton India Credit Company Limited

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