In bleak times for banks, India's digital-payments system wins praise
Digital loans could be next
WHEN INDIA was hit both by the failure of a big bank and a nationwide lockdown in March, bankers, fearing runs from rattled depositors, rushed to stuff cash machines with notes. In fact the demand for cash was relatively subdued. Activity hummed along the Unified Payment Interface (UPI), an electronic-payments network that is on its way to becoming the country’s financial lifeline.
This article appeared in the Finance & economics section of the print edition under the headline “Bright spot”
Finance & economics May 9th 2020
- Credit-rating agencies are back under the spotlight
- With oil prices depressed, China presides over a buyer’s market
- A perky stockmarket v a glum economy
- Emerging markets launch QE, too
- In bleak times for banks, India's digital-payments system wins praise
- Could the pandemic give America’s labour movement a boost?
- Losses by central banks are nothing to fear
From the May 9th 2020 edition
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