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  1. Demonetisation a great opportunity to go digital with long term rewards, says TCS CEO Natarajan Chandrasekaran

Demonetisation a great opportunity to go digital with long term rewards, says TCS CEO Natarajan Chandrasekaran

Stating that demonetisation is a great opportunity to go digital and it is hugely rewarding in the long term, TCS CEO on Monday said that from technology perspective, change to digital is an enormous opportunity.

By: | Published: December 19, 2016 11:27 AM
Last week, in a bid to push the cashless economy agenda, Niti Aayog announced a number of prizes for people adopting one of the many modes of digital transactions made available by the government. Last week, in a bid to push the cashless economy agenda, Niti Aayog announced a number of prizes for people adopting one of the many modes of digital transactions made available by the government.

Stating that demonetisation is a great opportunity to go digital and it is hugely rewarding in the long term, TCS CEO Natarajan Chandrasekaran on Monday told ET Now that from technology perspective, change to digital is an enormous opportunity. Post demonetisation, PM Narendra Modi has been constantly pitching for a cashless economy. Last week, in a bid to push the cashless economy agenda, Niti Aayog announced a number of prizes for people adopting one of the many modes of digital transactions made available by the government. The Niti Aayog announced two schemes to incentivise digital transactions across the country. In a PIB release, the NITI Aayog said, “The primary aim of these schemes is to incentivise digital transactions so that electronic payments are adopted by all sections of the society, especially the poor and the middle class.”

The two schemes are a) Lucky Grahak Yojana for consumers and Digi-Dhan Vyapar Yojana for merchants. “It has been designed keeping in mind all sections of the society and their usage patterns,” the release said. The schemes will become operational from December 25, 2016, and a mega ‘lucky draw’ would be carried out on April 14, 2017.  State Bank of India (SBI) chief Arundhati Bhattacharya also backed Prime Minister Narendra Modi’s push for a cashless economy. Notably, Bhattacharya had welcomed the move to demonetise the Rs 500 and Rs 1,000 notes. “We will strive to restock ATMs at the earliest and make them operational. The Government has given enough exemptions to ensure urgent needs are met. We will work round the clock to ensure that customers have a smooth experience,” Bhattacharya said. She opined that the banking system has handled such demonetisation in the past as well and will do so again this time.

Meanwhile, talking about opportunities in US Chandrasekaran said, “I can see more opportunities being created in US going forward. There could be headwinds in US visa regime once Trump takes over as President”.

 

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