DEBIT CARDS, CREDIT CARDS, ATM WILL BE UNNECESSARY IN 3-4 YEARS : NITI AAYOG

Niti Aayog CEO Amitabh Kant said that Debit, Credit cards as well as ATM will be unnecessary in next three four years and people will use smart phones for banking and financial transactions.

In India there are 72 percent people is below the age of 32 years. It will advantage in other regions like u.s. and europe in other word of demographic appropriation.

CEO amitabh kant said that india will use mobile for doing many transactions instead of Debit cards, Credit cards and ATM technology.  CEO Dr. Kant also said that India is the only country with huge numbers of mobile phones and bank accountsso it will be only nation where will make a lots of disruption. More and more transactions will done in mobile phones and this term is already in demand. Niti Aayog CEO Amitabh Kant was recommend with honour for doctorate degree at amity university noida campus.

India is growing with rate of 7.5 percent per annum and this rate is the fastest rate in the terms of economic landscapes arround the world. Dr. Kant said that after redundant of ATMs and Debit, Credit cards it will be increase of 9 to 10 percent. India was passing through window of demographic transition, which rarely happens in the history.

About 70 percent people in india are under 32 years of age so population will be younger till 2040. And u.s. and europe population will become old near 2040. We need those people in the nation who can build a society with continuously innovate and accept the changes.