An Association With Engaging Experience
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Indian Oil Corporation Ltd.

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Hindustan Petroleum Corporation Limited

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Bharat Petroleum

Our Core Value

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Over Latest News

Debit card breach puts a big question mark on PM Modis quest to go

India quest to become a cashless economy has been dealt a blow by a data breach that compromised as many as 3.2 million debit cards. 

Prime Minister Narendra Modi urged Indians in a radio address in May to use cashless payments to discourage corruption and keep track of money. Convincing them may get harder after India national card payments network said that the data violation led to fraudulent transactions, mainly in China and the US. 

The illegal withdrawals were limited to 641 customers of 19 banks, and the total amount involved was just $194,000, the National Payments Corp. of India said in a statement late Thursday. Yet the breach could reduce faith for cashless transactions in a country where Google Inc. estimates the digital payments industry will grow 10 times to $500 billion by 2020. 

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