I would expect that banks in Kerala play an active role in popularizing the e-payments. 35. Recently a Technical Committee (Chairman: Shri. G. Padmanabhan) submitted a report on implementation of GIRO based payment system in India. Bill payment, as you are aware, is a major component of the retail payment transactions and GIRO is expected to be a game-changer.
Well, one possibility is that the economy might be further from its full potential than we think. In that case, the labour market would be less tight, wages would not rise, and that would hold down inflation. And indeed it seems that the headline unemployment rate doesn’t reflect some of the slack in the labour market.