India's Plan to Bring Digital Banking to 1.2B People
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India's Plan to Bring Digital Banking to 1.2B People
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Re: India's Plan to Bring Digital Banking to 1.2B People
#2Exciting, but I'm wary of journalism that presents no critical voices.
This was interesting:
Srikanth Nadhamuni, chief executive officer of Khosla Labs, said the best way to think of the project is by comparing it to how shampoo was introduced in India. Decades ago, most people couldn't afford to buy an entire bottle of shampoo, so Unilever, Procter & Gamble and other companies sold them in small sachets that people could afford to buy, paving the way for marketing everything from detergent to toothpaste in rural areas. Nadhamuni is betting that the new digital payments system will be be low-cost, high-volume, like a "shampoo-sachet revolution in the financial sector."
Perhaps this tech could help with micropayments elsewhere.
Re: India's Plan to Bring Digital Banking to 1.2B People
#3Exciting, but I'm wary of journalism that presents no critical voices. This was interesting: Srikanth Nadhamuni, chief executive officer of Khosla Labs, said the best way to think of the project is by comparing it to how shampoo was introduced in India. Decades ago, most people couldn't afford to buy an entire bottle of shampoo, so Unilever, Procter & Gamble and other companies sold them in small sachets that people…
Funny reading that, multinationals introduced relatively useless products to the masses using small quantities they could afford. The first hit is free.
This is more about control then actually improving anything. India still has problems with terror that could be better tracked if all finances could be scrutinized. Corruption too. If we can only get Pakistan to do the same.
Re: India's Plan to Bring Digital Banking to 1.2B People
#4Exciting, but I'm wary of journalism that presents no critical voices. This was interesting: Srikanth Nadhamuni, chief executive officer of Khosla Labs, said the best way to think of the project is by comparing it to how shampoo was introduced in India. Decades ago, most people couldn't afford to buy an entire bottle of shampoo, so Unilever, Procter & Gamble and other companies sold them in small sachets that people…
Funny reading that, multinationals introduced relatively useless products to the masses using small quantities they could afford. The first hit is free. This is more about control then actually improving anything. India still has problems with terror that could be better tracked if all finances could be scrutinized. Corruption too. If we can only get Pakistan to do the same.
Why are toothpaste and shampoo "relatively useless"? I believe there are many health benefits to using them.
I don't know for sure, however, because I've never tried going without them for long ... let me know how that goes.
Re: India's Plan to Bring Digital Banking to 1.2B People
#5Earlier quoted context omitted.
Funny reading that, multinationals introduced relatively useless products to the masses using small quantities they could afford. The first hit is free. This is more about control then actually improving anything. India still has problems with terror that could be better tracked if all finances could be scrutinized. Corruption too. If we can only get Pakistan to do the same.
Why are toothpaste and shampoo "relatively useless"? I believe there are many health benefits to using them. I don't know for sure, however, because I've never tried going without them for long ... let me know how that goes.
For toothpaste they were already using other things. And shampoo does not have health benefits. Maybe it makes you smell a bit better, but rural Indians don't care too much about BO even now.
ex for toothpaste: http://www.ncbi.nlm.nih.gov/pmc/articles/PMC3545237/
Re: India's Plan to Bring Digital Banking to 1.2B People
#6Earlier quoted context omitted.
Why are toothpaste and shampoo "relatively useless"? I believe there are many health benefits to using them. I don't know for sure, however, because I've never tried going without them for long ... let me know how that goes.
For toothpaste they were already using other things. And shampoo does not have health benefits. Maybe it makes you smell a bit better, but rural Indians don't care too much about BO even now. ex for toothpaste: http://www.ncbi.nlm.nih.gov/pmc/articles/PMC3545237/
I can't even begin to describe how condescending your comment comes across as.
Re: India's Plan to Bring Digital Banking to 1.2B People
#7In a country where genocide and sectarian violence are a regular occurrence†, I am sure that a detailed database of religious affiliation, biometrics, photographs, and addresses won't be misused.
Much like the Dutch census, history will look back at this registry of citizens with horror.
† http://time.com/3545867/india-1984-sikh-genocide-anniversary...
http://www.theguardian.com/commentisfree/2014/apr/07/narendr...
https://en.wikipedia.org/wiki/Graham_Staines
http://www.bbc.com/news/world-asia-india-30288169
https://en.wikipedia.org/wiki/Anti-Christian_violence_in_Ind...
https://en.wikipedia.org/wiki/Violence_against_Muslims_in_In...
Re: India's Plan to Bring Digital Banking to 1.2B People
#8In a country where genocide and sectarian violence are a regular occurrence†, I am sure that a detailed database of religious affiliation, biometrics, photographs, and addresses won't be misused. Much like the Dutch census, history will look back at this registry of citizens with horror. † http://time.com/3545867/india-1984-sikh-genocide-anniversary... http://www.theguardian.com/commentisfree/2014/apr/07/narendr... h…
Since you conveniently decided to not show violent acts against Indian Hindus, here are some links on Anti-Hindu violence for sake of completeness.
https://en.wikipedia.org/wiki/Christian_terrorism#India
https://en.wikipedia.org/wiki/Category:Islamic_terrorism_in_...
https://en.wikipedia.org/wiki/Religious_violence_in_India#Re...
https://en.wikipedia.org/wiki/Ethnic_cleansing_of_Kashmiri_H...
https://en.wikipedia.org/wiki/Persecution_of_Hindus
Mostly Islamic terrorism https://en.wikipedia.org/wiki/Terrorism_in_India
https://en.wikipedia.org/wiki/Category:Violence_against_Hind...
Re: India's Plan to Bring Digital Banking to 1.2B People
#9Audacious plan? That would be getting their 1.2 Billion people reasonable access to fresh water and indoor plumbing.
Re: India's Plan to Bring Digital Banking to 1.2B People
#10Exciting, but I'm wary of journalism that presents no critical voices. This was interesting: Srikanth Nadhamuni, chief executive officer of Khosla Labs, said the best way to think of the project is by comparing it to how shampoo was introduced in India. Decades ago, most people couldn't afford to buy an entire bottle of shampoo, so Unilever, Procter & Gamble and other companies sold them in small sachets that people…
I'll disagree with the fact that multinationals like Unilever and P&G start producing and marketing sachets in India. This was pioneered by an Indian entrepreneur Chinni Krishnan[1]. These firms just ended up copying their business model.