Friday, June 29, 2012

RBI seeks to boost Debit Card Usage

This is a small, but good step to encourage usage of debit cards, over credit cards.

Card issuing banks may not do that. But, central bank should do this.

The way we are moving to a consumer-society, where wealth/income/asset/etc are more important over everything else, we need to discourage from moving from
  • a saving-socity 
  • to 
  • a spending society 
  • to 
  • a spending-on-credit-society !
PS :I am tempted to add -  This rampant consumerism is at the core of most of ills plaguing our society, across all strata

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