Bandwidth Hiccups a Handicap for Digital India Push
Mumbai: As India embarks on developing its digital payments ecosystem in a big way post-demonetisation, infrastructure issues around bandwidth availability for payments and people’s fear of making digital payments are major concerns for the government, said Andhra Pradesh Chief Minister Nara Chandrababu Naidu in Mumbai on Wednesday. “We need both bandwidth as well as hardware. India is ve- ry weak in hardware also, which we are importing even today,” said Naidu. “There is bandwidth available to a certain extent, but that is not adequate. I have also been talking about the per capita consumption of bandwidth.”
Naidu, who is heading the chief ministers’ committee for promoting digital payments constituted by the central government, said that while the committee’s interim report has already been brought out, the final one is being prepared and the panel is studying the best practices available globally to present its recommendations.
“We have already presented the interim report in consultation with various stakeholders and the Reserve Bank. Now we have to study the best practices globally and implement them here,” said Naidu. “Digital payments are the way forward and it has a host of advantages.” He was speaking at an event where a memorandum of understanding was signed between the Andhra Pradesh government and Visa and Thomson Reuters, to turn Fintech Valley at Visakhapatnam into a national centre for fintech innovation.
Naidu said that if payments move to digital channels, In- dia will be able to root out corruption, bring in transparency, increase revenue and fight fraud. Naidu also stressed on the Aadhaar platform and how it can act as a base for India’s move to be a less cash society.