Digital safety fears as India eyes cashless future

An Indian bank teller checks his phone as he walks past a poster advertising electronic payments at a Digital Wealth Fair in Mumbai on January 3, 2017. India is attempting to move towards a digital or cashless economy following the government's move in November 2016 to withdraw high-denomination 500 and 1,000 rupee banknotes from circulation in a bid to tackle tax evasion. / AFP PHOTO / INDRANIL MUKHERJEE

As the Indian government urges millions to embrace digital payment systems, concerns over cybersecurity are growing due to a spate of high-profile hacking and cybersecurity incidents. 

Following his decision in November to demonetise high-value currency notes of 1,000 rupees (RM65) and 500 rupees (RM32) to curb corruption and illegal activities, Prime Minister Narendra Modi has been pushing for cashless transactions to promote more transparency.