Financial Services
Why rbi needs to look beyond banks and upi to broad-base india’s digital-payments growth
19 Apr 2021
1 min read
Few would have ever given (no pun intended) a thought to how
a quarter-mile[1]long container ship,
weighing 200,000 metric tonnes, navigates its way through a narrow 400m
waterway. Until it set oH a crisis. On March 23, the humongous container ship,
laid adrift by strong winds, got stuck in the Suez Canal, leaving more than 100
ships stranded at both ends.
The man-made canal is key to international commerce,
handling nearly a third of its container traHic. Around USD10 billion worth of
goods pass through it every day. Naturally, the clogged artery triggered spasms
of panic in the heart of global trade till it was cleared after a week.
The full article was originally published on The Economic
Times - ET Prime