Radhika Pandey, Ganesh Gopalakrishnan write: The first challenge for RBI, while considering a central bank digital currency, would be in matching domestic priorities with design features
A now-scrapped requirement for GSTIN, lack of awareness and grim economic realities post pandemic could be factors. The gap must be bridged if MSMEs are to avail subsidies and other credit facilities
With a predominantly bank-led growth strategy, banks face the daunting task of managing the pandemic’s impact on their balance sheets while spearheading the country’s economic recovery.
The costs of formalisation and compliance are high and onerous in many states in India. In such an ecosystem, there are perverse incentives to remaining small and informal.
