Bhubaneswar: India was growing under the Digital India Initiative when the COVID-19 pandemic hit the economy. Amid various safety norms to check the spread of the lethal virus, cashless transaction acquired significance in the daily lives of people, like never before. And that became a contributing factor for people switching to digital payment mode for their regular transactions.
From vending trolleys to fast-food stalls, supermarkets and pharmacies, digital payments through Google Pay, PhonePe and Paytm have not just made people’s lives easier but safe too.
As the digital payment mode is gaining popularity in Indian market, Dr Bishnu Prasad Patro, Additional Professor and Head of the Department of Orthopaedics at AIIMS, Bhubaneswar has authored his first book ‘Digital Payment’- Blue Print for Shining India published under Red Flower Publication, New Delhi.
In the 132-pages book, Patro has discussed various aspects of digital payments and how they can bring transparency to personal, socio-economic, political and cultural lives.
“Opportunity is the mother of all corruption,” Patro quoted in his book. Narrating the need for Indian banking revolution where cash transactions would be minimized to 10%, he penned that it could help bring transparency in nearly all monetary transactions, increase FDI, increase the value of rupee and mark better utilization of Government funds. The book also has narrations on black money and the benefits Indian economy could gain on its reduction.
The book covers several topics like Jandhan Account, importance of Aadhar, fingerprint based payment, bank loan, beggar network, chit fund and illegal money collection, corona, defence procurement, election, fake currency, income tax, income of politicians, impact on common man and many more.
In a nutshell, Dr. Bishnu Prasad Patro has presented in his book, the importance of cashless society and how that could turn the vision of a shining Indian economy, true.