For a long time, economists including Nobel laureates like Merton Miller and Franco Modigliani-regarded money merely as a medium of exchange. But by building on the work of John Maynard Keynes and Hyman Minsky, economists have since moved beyond a narrow focus on the quantity of money to consider its structural influence on the real economy and the financial system.
A structural understanding of money and finance becomes even more important in an increasingly digitalised and cashless world, because there is a growing need for policymakers to operate not just as market fixers but as proactive market shapers. A cashless world not only changes people's relationship with money and creates new opportunities for how it is managed or even conceived; it also puts new pressure on central banks to reimagine their role and become more innovative.
Cashless transactions are growing faster than ever as reliance on physical cash declines. Consumers, businesses, and governments clearly prefer cashless technology's cost-effectiveness and ease of use. Tap-based payment systems, once confined to the realm of tech-savvy urbanites, now pervade even the most rudimentary economies. Interoperable payment systems are quickly emerging as the core economic infrastructure of the digital-era economy, marking a departure from the past 2,000 years of government-issued physical cash.
هذه القصة مأخوذة من طبعة April 27, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة April 27, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Rain, dust storm kill 8, disrupt life in Mumbai
Rain and strong gusts of wind swept through several parts of Mumbai on Monday, killing eight people and wounding nearly 60 others, while damaging property and resulting in the suspension of flight and train operations.
ER&D sails get trimmed amid FY25 outlook fog
In the face of weak client spends and elongated sales cycles, near-term outlook charts uncertain waters, say analysts
Health plan: Compare features, costs; port if you find better deal
Combine base policy with super top-up; buy multi-year policy to cope with rising health insurance premiums
Indegene shares rally over 26% in debut trade
Shares of healthcare tech firm Indegene Ltd on Monday ended with a premium of over 26 per cent against the issue price of ₹452.
Anxiety on D-St: Voter turnout, victory margin quicken mkt pulse
Foreign investors wait on the sidelines, seeking clarity on the next govt's composition and strength
Gilt-y pleasure: Active debt MFs see heaviest inflows in over 3 years
Gilt schemes garner ₹5,200 cr in April, most in at least 5 yrs
Gains in ABB may sustain on strong margin outlook
ABB India's March quarter results (Q1CY24) were led by strong margin performance.
ICICI SECURITIES DELISTING - Privacy rules breached: Shareholders tell NCLT
ICICI Securities breached shareholder privacy and administration rules by sharing the details of shareholders with ICICI Bank, minority shareholders told the National Company Law Tribunal (NCLT) on Monday.
Gaining strength
Improving bank balance sheet will support growth
The power gap
Battery storage systems can maximise RE