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December 19, 2016

Vivek Dehejia Talks to The Financial Express on the Importance of the RBIs move to eKYC

Resident Senior Fellow, Vivek Dehejia, is quoted in the Financial Express, commenting on the RBIs move to allow eKYC. He says:

 

The movement of some or many of the unbanked into the formal financial sector and the movement of firms from the informal to the formal economy (or, equivalently, the process of “creative destruction” whereby new formal sector firms replace defunct informal sector firms) has a permanent and positive impact on the economy, even though the gains from taxing black money via the currency swap is putatively one time only.

 

Read the full article here

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