NEW DELHI: Policy commission CEO Amitabh Kant said on Saturday that ATMs along with debit and credit cards will be wasted in the next three to four years. People will use their mobile phones for their transactions.
He said that 72% of India's population is under 32 years of age. This shows the demographic dividend status compared to the countries of the United States and Europe.
Addressing a gathering here at Amity University's Noida campus here, Kanta said, "The use of credit cards, debit cards and ATMs in India will be wasted in the next three years and we will be using our mobile for all financial transactions." Kant was honored with honorary doctorate of Amity University.
He said that India is the only country in the world where biometric data is available in the number of countries. As well as mobile phones and bank accounts, this will be the only country in the future where there will be different types of new things. Most financial transactions will be done by mobile phones and this effect is already being viewed.
He said that 72% of India's population is under 32 years of age. This shows the demographic dividend status compared to the countries of the United States and Europe.
Addressing a gathering here at Amity University's Noida campus here, Kanta said, "The use of credit cards, debit cards and ATMs in India will be wasted in the next three years and we will be using our mobile for all financial transactions." Kant was honored with honorary doctorate of Amity University.
He said that India is the only country in the world where biometric data is available in the number of countries. As well as mobile phones and bank accounts, this will be the only country in the future where there will be different types of new things. Most financial transactions will be done by mobile phones and this effect is already being viewed.