I’ve been thinking how simple and wonderful will it be if I can open up an app, specify the amount I wish to withdraw and find depositors with similar amounts around me, connect with them, collect my cash, transfer the money to their bank accounts and we’re done. And of course the other way round.

Irrespective of the bank either of us bank with, all the required pieces are in place to enable this. We have UPI, we have smart phones where we can locate nearby people who have what we need and who’s profile and rating reflects on their genuinity. Perhaps the only challenges could be counterfeit notes which is addressable by way of technology as well as user education.

I welcome your comments on this topic.