Less-cash society more achievable than cashless: E-payment leaders

''When we talk about cashless society, we are not talking about people in Mumbai. We are talking about people who are in the hinterland''

While digital payments have skyrocketed in the last five years, with the pandemic providing a fillip, the aim to be a cashless society is still a far-fetched dream for India.

However, being a less-cash society is something that the country can achieve in the medium term, panellists at the Business Standard BFSI Insight Summit on Digital and Payment Banks concurred.

“I think all of us are aligned with the idea of less cash than cashless.

I just hope CBDC (central bank digital currency) does some magic so that we reach the cashless dream.

So, in 3-5 years’ time, if we