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Last Updated : Oct 06, 2016 10:46 PM IST | Source: CNBC-TV18

Shifting to digital payment can save India Rs 4.7 lakh cr: Visa

In an interview with CNBC-TV18's Kevin Lee, Visa Group Country Manager TR Ramachandran said that India can reduce its cost of cash to 1.3 percent of GDP by 2025 from the current 1.7 percent and save around Rs 4.7 lakh crore by shifting to more digital means of payment.


Digital India, mobile wallets, UPI have become buzzwords as India starts adapting to digital payments.

This does pose the question whether we are moving fast enough or not?


Visa has come out with a report on accelerating India's digital payments over the next 5 years, where it sheds light on such questions.

In an interview with CNBC-TV18's Kevin Lee, Visa Group Country Manager TR Ramachandran said that India can reduce its cost of cash to 1.3 percent of GDP by 2025 from the current 1.7 percent and save around Rs 4.7 lakh crore by shifting to more digital means of payment.

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First Published on Oct 6, 2016 10:41 pm
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