Constant Internet Suspensions In India Affecting Online Transactions and Economy Adversely

In the wake of the highly controversial and prejudiced Citizenship Amendment Act and other related legal developments such as the NRC, IT Amendment Act, Abrogation of Article 370 in Kashmir, and the Data Protection Bill, India has seen a steep increase in public unrest as thousands express their dissent in various ways.

The increase in dissent has also seen an increase in government ordered internet shutdowns and suspensions in various parts of the country such as Kashmir, Kerala, Uttar Pradesh, Assam, and several parts of the capital, Delhi.

A report by ET highlights how the frequent internet suspensions have already begun to make a dent in online transactions and, as a result, have started affecting the economy as a whole.

Online transactions are mainly taking a hit due to the increasingly digitized mode of transactions Indians have started employing in recent years with the introduction of Aadhaar – based online payment systems AePS) by the National Payment Corporation of India (NPCI). AePS is a bank led model which allows online interoperable financial inclusion transaction at PoS (MicroATM) through the Business correspondent of any bank using the Aadhaar authentication.

According to recent data by the NPCI, the value and the number of transactions on these services have contracted in recent times. During the past 3 – 4 weeks, the NPCI reports recording 19 crore transactions valuing at Rs. 9300 crore.

Read More .https://dazeinfo.com/2020/01/09/constant-internet-suspensions-in-india-affecting-online-transactions-and-economy-adversely/

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