Cashless India: Siddharth Mehta of IL&FS - PowerPoint PPT Presentation

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Cashless India: Siddharth Mehta of IL&FS


Former Director of IL&FS, Siddharth Mehta says digitalization now has a new meaning and will continue to have an impact on more industries. – PowerPoint PPT presentation

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Updated: 16 August 2022
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Title: Cashless India: Siddharth Mehta of IL&FS

"People are going Cashless" unveils the effect
of Digitalization in India
The COVID-19 epidemic has caused disruptions in
economies all around the world. However, these
difficulties provide businesses a chance to
prosper by adjusting to a new reality, going
contactless, and going digital. Digitalization
now has a new meaning and will continue to have
an impact on more industries. As Siddharth Mehta
ILFS says, Now is a great time to focus on
digital transformation by acknowledging its
requirements while the globe considers methods to
lessen the disruption caused to mankind.
Digitalization fueled the businesses to go online
and they start their online profile some of the
businesses created applications to give their
customer easy access and connectivity. The
aftermath of this action aids digitalization.
People of almost every age group started using
Mobile Apps to purchase almost everything and pay
digitally through the UPI ID. This UPI ID is
another example of the successful implementation
of Digital India during COVID-19. As we all
know coronavirus is a transmutable disease and
can spread massively through the transaction of
money physically, thats where the concept of
digital payment has taken place and now the whole
country is going cashless.
One of my friends experienced a very weird
situation, he was driving to his relatives place
and stopped his car at a traffic signal for a few
minutes and a middle-aged beggar came to his car
and asked for money, he says he doesnt have cash
so he cannot help him. The beggar didnt look
upset, and immediately took his hand in his bag
and took out a UPI QR Code, and asked my friend
to transfer money through the UPI. My friend was
stunned and amazed at that moment and transferred
that beggar some money online Siddharth Mehta
ILFS shares a story of his friend. He also
added, this incident with my friend made me
think how much people of India are influenced by
the digitalization.
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