The News Journal

S Ravi BSE Former Chairman shares his views on how the increased need for rewards and carelessness are greatly made use of by the fraudsters. “The fraudsters succeed on account of customer’s need for rewards or better returns, increased spending limits, saving while spending and most importantly, carelessness as we seem to have forgotten what our elders taught us that Never Trust Strangers and Greed causes great Disaster”, Mr. Ravi says. As per the expert’s view, the advancement of technology, increased usage of digital platforms and mobile becoming a one stop device for various financial transactions, has eased the way of receiving and paying money and saving time in paying bills, making investments and also getting reward points. However, like each coin has two sides, this advantage comes with disadvantage of certain cyber threats, phishing, accounts getting hacked, bogus loan/ discount/ cash back offers. Sethurathnam Ravi There are also several other threats and scams that are run ...

RBI has recently launched a pilot for its digital rupee and the financial expert Sethurathnam Ravi approaches it as a first step towards CBDC. As per the former BSE Chairman, this is a once in a generation opportunity for India to be a world leader, and the question is whether the RBI will spur innovation or, as with fintech, wait for an inescapable inevitability while the sector lags. Sethurathnam Ravi Blockchain will change the way the world works, highlights Mr. Ravi in his latest article. In the author’s own words, “It has applications across the spectrum – decentralization, provenance, transparency, and security are all features key to processes across a wide array of business domains. The domain it will most emphatically impact though, is financial. It will precipitate reimagination of money in a way as, or probably more, profound as how dematerialization did when Western Union invented wire transfers, or when credit cards changed how we pay”. In the past years, the proliferatio...