Moving towards a cashless society

Cash plays an important role in our modern economy, particularly among the poor, and every step forward towards cashless future should be with great caution, keeping the poor section surviving solely on informal economy included in the transition process. The digital transformation of cash is a cost savings to the entire financial ecosystem. From printing to cash management to physical infrastructure to securing and dispensing of currency, cash is very expensive. Government must think out of the box to pass these savings to consumers as incentives to embrace digital transactions.

Hackers program ATMs to spew cash

As ATMs have become ubiquitous, so too have attacks that turn these automated tellers into robotic thieves. In July 2016, a group of masked cyber-criminals cashed out 34 ATMs operated by the First Commercial Bank, one of Taiwan’s largest banks. Criminals had collected more than 83.27 million New Taiwan dollars (US$2.6 million) in cash — without using ATM cards. The criminals did not physically damage the ATMs, nor did they use skimmers or bank cards.

The Times They Are A-Changin

Instead of going around exchanging festive hugs, jadoo ki jhuppi, we shifted to mobile phones and now to social media and greetings is just a click. Life today is turning into a constant inorganic celebration. No wonder the festivals are losing its sheen, as we remembered it. Today a child can’t differentiate between a Diwali, Christmas or New Year and might enjoy a Halloween more.

Maihar: Where the Mother’s necklace fell

Established by the Rajputs in the 18th century and a princely state of the British Rule in the 19th century, Maihar is a city in Madhya Pradesh. It is best known for the famous temple of Maa Sharda Devi (ca. 502 CE), situated on the top of the Trikoota Hills, which can be reached after climbing 1,063 steps. The name of city means ‘mother’s necklace’, and it got this name because, as per Hindu mythology, Lord Shiva was carrying his mother’s body when her necklace fell off. The place where it fell was in this city, which is why it is called Maihar. The city is a prominent place for the Indian classical music. It was originally the birthplace of the Maihar Gharana, a type of Hindustan music.