The efforts already taken by NPCI for a common USSD gateway for banks can now be taken forward towards fruition. Here is a great opportunity for very important stakeholders – banks and telecom service providers – to come together to deliver the mobile banking services in a seamless and secure manner to their customers. Let me make a suggestion.
As things turned out, the outcome for aggregate demand was pretty close to the expected outcome – at an above-trend rate of 4½ per cent compared with the forecast 4¾ per cent. In contrast, growth in aggregate output – at a below-trend rate of 2¼ per cent – was slower than we had expected.