ABSTRACT
 The information and communication technology (ICT) revolution has brought positive spill-over effects on institutions and economies across the globe, but it has also increased the information gaps between countries. A key characteristic that may explain these widening gaps is the deepening endogenous relationships between ICT infrastructure, institutions of governance, and economic growth in many developing countries. Thus far, the links between these variables have not been discernible in developing economies, so few studies have explored them. In this paper, we investigate the possible Granger causal relationships among institutional quality, economic growth, and ICT infrastructure development for a sample of developing countries for the period from 2005 to 2019. The application of a vector error-correction model reveals strong inter-relationships between all the variables in the short run. In the long run, institutional quality and ICT infrastructure development stimulate economic growth. These complex relationships are explored and lessons are drawn for policymakers.
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 RESEARCH HIGHLIGHTS
 We assess interactions between institutional quality and ICT infrastructure as well as economic growth.
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 We deploy a panel Granger causality test for low- and lower middle-income countries from 2005 to 2019.
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 We show that there is Granger causality between the variables in the short and the long term.
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 For each case and specification, there is support for the hypothesis that ICT infrastructure and institutional quality both Granger-cause growth in the economy.
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 In the short run, we note a feedback relationship between institutional quality and economic growth. Other short-run results are more varied, based on the particulars proxies for institutional quality and ICT infrastructure.
 
 
 Read more: <a href="https://www.tandfonline.com/doi/full/10.1080/02681102.2022.2051417" style="text-decoration:none">https://www.tandfonline.com/doi/full/10.1080/02681102.2022.2051417</a>

The information and communication technology (ICT) revolution has brought positive spill-over effects on institutions and economies across the globe, but it has also increased the information gaps between countries.

Institutional development in an information-driven economy: can ICTs enhance economic growth for low- and lower middle-income countries?

A mobile wallet is just what it sounds like &ndash; a wallet that exists on your smartphone instead of in your pocket. Details of your credit and debit cards are stored securely with the bank, allowing you to&nbsp; make payments to both, people and vendors, whether at a mall or grocery store right from your mobile.
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 Don&rsquo;t have a mobile wallet? Just download one to your smartphone to make life easier. It&rsquo;s an e-ticket into the world of convenient finances, assured security, and efficiency like you&rsquo;ve never had before!
 &nbsp;
 Reasons to move to a mobile wallet
 Convenience: Mobile wallets enable transactions to be completed instantly. With a few taps here and a few clicks there, you&rsquo;re done. No more waiting in long lines or going to the ATM to withdraw cash. There&rsquo;s no better satisfaction than purchasing what you want in a quick and convenient manner.
 Easy and quick: When you use a mobile wallet, you don&rsquo;t need to keep entering your card number, expiry date, CVV code etc. every time you make a purchase. Once you enter your details, they are stored, and with a click, your payment goes through. Moreover, when you are in a store, you can avoid digging through your bag to search for your wallet; instead, just pick up your phone which is always handy, , scan Bharat QR code and you&rsquo;re done. It&rsquo;s that easy!
 Easily accessible: With all your card details in one place, your day-to-day transactions become easier to process. Plus, your phone is always easily accessible, serving more than just a communication device.
 Wide range of uses: A mobile wallet can be used for various transactions, such as bill payments (DTH, electricity, water, broadband, cable, etc.), buying tickets for flights, buses or trains, purchasing movie tickets, buying groceries, and even transferring money. These days the reach of a mobile wallet has gone far and wide.
 Never miss a payment: With your hectic and erratic schedules, you may tend to forget the date on which your bills are due. A mobile wallet can be your saviour in such times. Set up autopay and the app will automatically pay your bills on the specified date. This lets you go about your days hassle-free.
 Security: Your physical wallet can be stolen, but your mobile wallet cannot. Even if you lose your phone, your mobile wallet has security settings that ensure only you can access it. So, no one can just reach in and grab your debit card. Moreover, when data is transmitted via a mobile wallet for making payments, the account number isn&rsquo;t communicated. Instead, encrypted payment codes are used to ensure security.
 Discounts and offers: Mobile wallets often have promotions, Reward Points, CashBack, bonuses, gifts, and other incentives that can save you money.
 A one-of-a-kind app that&rsquo;s left a lasting impression is PayZapp from HDFC Bank. It&rsquo;s an app that allows you to manage your finances efficiently and conveniently.&nbsp; Additionally, now with its UPI features, you can easily transfer money to someone else&rsquo;s bank account. It has several stand out features, ranging from its CashBack and Reward Point offers, which allows you to maximise&nbsp; on your savings, exclusive tie up with Flipkart store, shop, compare and buy, amongst many more.
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 It also has one of the most significant benefits of this mobile wallet that outshines others. Through PayZapp, you don&rsquo;t have to load money in your wallet to make transactions. Moreover, you can link your Debit and Credit Cards allowing you to make your transactions through the linked card. This gives you a higher transfer limit, as compared to other digital wallets
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 This gives you more freedom to pay more than just bills or for shopping, but also for making fund transfers to other parties.
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 So, if you&rsquo;re looking to simplify your financial management, why not download PayZapp and bring some convenience and ease to your life. Click here to get started! 
 
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 * The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. 
 
 Read more: <a href="https://www.hdfcbank.com/personal/resources/learning-centre/pay/reasons-why-you-should-be-using-a-mobile-wallet-if-you-arent-already#:~:text=Wide%20range%20of%20uses%3A%20A,groceries%2C%20and%20even%20transferring%20money" style="text-decoration:none">https://www.hdfcbank.com/personal/resources/learning-centre/pay/reasons-why-you-should-be-using-a-mobile-wallet-if-you-arent-already#:~:text=Wide%20range%20of%20uses%3A%20A,groceries%2C%20and%20even%20transferring%20money</a>.

A mobile wallet is just what it sounds like &ndash; a wallet that exists on your smartphone instead of in your pocket.

10 Reasons Why You Should Be Using A Mobile Wallet If You Aren't Already

Is a digital wallet the new microbank? Can a non-banking financial company (NBFC) now credit the loan amount directly into a wallet, disintermediating a bank completely? Can a wallet be used to set up standing instructions for EMIs? Can cash be withdrawn from and deposited into wallets using ATMs run by non-banks? Should banks worry?
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 If the recent announcements by the RBI, allowing Prepaid Payment Instruments&#39; customers with full KYC to avail limited banking solutions are any indication, the answer to all the above could soon be &lsquo;yes&rsquo;.
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 Over the last decade, since its introduction in India, the digital wallet payment system has not only captured a significant market share but also completely revolutionised the payment system. By 2018, almost 8% of the Indian population was using digital wallets for payments.
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 The use of prepaid wallets was further propelled with the launch of UPI, which allowed an open architecture payment system.
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 The RBI&rsquo;s announcements, when viewed in totality, are indeed expected to have a significant impact on the country&#39;s payments system. The interoperability of wallets would mean a customer can transfer money from one wallet to another, or to a bank account. Effectively, mobile wallets will be able to transfer and receive funds like bank accounts.
 
 
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 Further, enhancing the current limit of outstanding balance in a wallet from Rs 1 lakh to Rs 2 lakh would help in increasing the throughput of transactions through the wallet and boost their usage.
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 Permitting non-bank payment system operators - like prepaid payment instrument (PPI) issuers, card networks, white-label ATM operators and TReDS - to take direct membership of centralised payment systems, will enable wallet customers to send or receive funds through direct electronic transfers to a bank or to another wallet. This would enhance the reach of digital financial services like RTGS and NEFT to all user segments, including in Tier 3 and 4 cities.
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 Allowing cash withdrawals from full KYC wallets combined with white-label ATMs and interoperability will boost migration to full-KYC wallets.
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 The proposed changes will bring mobile wallets almost at par with banks for most practical purposes. Profiles such as students need not open a bank account &ndash; they could get funding from the bank account of their parents and use the wallet for all kinds of electronic payments.
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 With wallets joining RTGS and NEFT payment systems, functions like fee payment, house-rent payment can be performed without making bank transfers. On the lending side, an NBFC may consider setting up its own wallet and disburse the loan in the customer&rsquo;s wallet account maintained with the same NBFC.
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 The customer can use the money or withdraw cash as and when required. In a way, a wallet could be almost like opening a saving account with the NBFC.
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 Going forward, wallets have the potential to serve as a front-end interface for banking services while traditional banks would continue focusing on core activities of underwriting in the backend. In effect, customers will have the option of choosing a financial service provider without changing their bank account &ndash; for instance, a bank account holder may use Paytm for customer service while retaining his or her bank account in the backend.
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 However, considering that full KYC would be required for wallets to provide these services, the regulatory arbitrage that had propelled the growth of mobile wallets would go away. If mobile wallets are successful in building a customer base with full KYC accounts, this has the potential to make banking services interoperable for wallet customers.
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 And as I have written in my previous columns, the banking regulator should now mull over introducing portable banking solutions, enabling the customer to seamlessly move from one service provider (a bank and now even a wallet) to another, very much like in mobile telephony. These announcements could well set the stage for that loftier goal.
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 Read more at:
 <a href="https://economictimes.indiatimes.com/markets/stocks/news/a-bank-in-the-wallet-rbi-has-just-taken-indian-banking-to-next-stage/articleshow/82062459.cms?utm_source=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst" style="text-decoration:none">https://economictimes.indiatimes.com/markets/stocks/news/a-bank-in-the-wallet-rbi-has-just-taken-indian-banking-to-next-stage/articleshow/82062459.cms?utm_source=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst</a>
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Over the last decade, the digital wallet payment system has not only captured a significant market share but also completely revolutionised the payment system.

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