Of e-wallets and pick pockets

Sep 07 2013, 03:33 IST
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SummaryAt a seminar on e-payment systems in Mumbai, an RBI official said it will be wrong to feel sorry for the slow pace of spread in electronic wallet in India.

OF E-WALLETS AND PICK POCKETS

At a seminar on e-payment systems in Mumbai, an RBI official said it will be wrong to feel sorry for the slow pace of spread in electronic wallet in India. His explanation to the stunned audience is that countries in Africa and Latin America have poor law and order and so people use this facility. The implication is if Indian roads become more unsafe e-wallet penetration will improve.

AFTER RAJAN, WHO WILL BE CEA?

With Raghuram Rajan taking charge as RBI Governor, all eyes are on who will fill up the vacancy at North Block. This time, the finance ministry may not invite applications for chief economic adviser and instead invite a candidate of its choice. Among the top contenders is Ajay Chhibber, formerly with the UNDP. A top contender last year too, Chhibber now heads the Independent Evaluation Office (IEO) under the Planning Commission.

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