The UPI and digitalization of payment have seen massive spending across the nation and this is true especially with Youth and College students. Did you experience the same at some point in your life? Is it a masterstroke of the ...
The government approved the linking of 101 APMC mandis into the e-NAM platform. Significance of this move: It is expected to boost the turnover of the platform. e-NAM aims to create a central online platform for agricultural commodity price discovery by integrating all existing APMC maRead more
The government approved the linking of 101 APMC mandis into the e-NAM platform.
Significance of this move:
It is expected to boost the turnover of the platform.
e-NAM aims to create a central online platform for agricultural commodity price discovery by integrating all existing APMC markets.
The unified market is expected to aid price discovery and boost farm income.
The platform will also offer choices to farmers to sell their produce as multiple APMC mandis will be integrated.
Along with APMC integration, the Platform of Platforms (PoP) within the e-NAM portal will facilitate farmers to sell their produce outside their State borders.
Due to digital access, the reach will widen to multiple markets and buyers.
The move will also help bring transparency to business transactions which will help in better price discovery.
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After the pandemic, the shift to non-cash transactions has increased rapidly. Perfectly easy to use wherever and whenever needed, UPI lowers barriers and promotes unintended and spontaneous purchases. Spending money through digital means, such as UPI, can feel less tangible than handling cash. ThisRead more
After the pandemic, the shift to non-cash transactions has increased rapidly. Perfectly easy to use wherever and whenever needed, UPI lowers barriers and promotes unintended and spontaneous purchases. Spending money through digital means, such as UPI, can feel less tangible than handling cash. This can lead to a diminished perception of expenditure and easier justification for spending.
The integration of UPI with BNPL services and other forms of short-term credit can lead to increased consumption, with the actual payment deferred to a later date. Easy access to loans and overdrafts through UPI-linked accounts can result in more spending, often on non-essential items.
To dilute these effects, users should utilize budgeting apps, set spending limits, and regularly review transactions. Financial education is also crucial for understanding the importance of saving and money management.
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