Debit and credit cards will be useless in 3-4 years: Mobile phone transaction will be:

Noida
Policy commission CEO Amitabh Kant said on Saturday that in the next 3-4 years, debit, credit card and ATM will be lost and people will use mobile phones for financial transactions. He further said that 72 per cent of the population in India is under 32 years of age and in the case of a demographic dividend, it will be an adavantage compared to the US and Europe.

Kant, who was awarded the honorary doctorate of the Doctorate at Amida University's Noida campus on Saturday, said, "India will make credit-debit cards and ATM technically unnecessary in the next 3-4 years. We will use mobile for transactions. '

Kant said that India is the only country in the world where there is an Arab biometric and so many mobile phones and bank accounts and hence only this country will bring many changes. Trend from mobile to financial transactions is growing rapidly.

He further said, "India is moving at a speed of about 7.5 per cent and there is greenery among the world's barren economic landscape, but our challenge is to achieve development at a speed of 9-10 per cent." He said that India is going through a major change that happens rarely in history.

The CEO of the Policy Commission said, "72 percent of India's population is less than 32 years and by 2040 our population will be young and young, while the population of America and Europe will grow old and old. We need a society which will always do something new and it will bring about change. "