The Times of India reports:
Gates believes digital payments can transform the lives of poor, and if demonetisation+ helps quicken digitisation, the temporary pains may be worth going through.
"Government transitions are never managed perfectly and never easy," he said, referring to the transitory problems caused by the replacement of high-value currency notes.
"India is pushing towards digitisation in a big way. The scale of the country means that once India gets there, the amount of digital innovation here will be greater than anywhere else in the world," Gates said. Among big benefits of digital financial transactions, he counted a deep reduction in the cost of borrowing for the poor.-RW