What is the minimum age for legally using mobile wallets?

Mobile phones with wallets entice customers with a strong value proposition. People may have more control over their spending if they use a wallet than if they use cash. Opposite too may be true for some users. Payment banks that will get launched in april / may this year, may want youngsters to use their wallets. Parents usually give their kids a mobile upon reaching a certain age. They may in future also want to give them pocket money via loading the cash onto their son's/daughter's wallet.

The question is how old should a person be in order to legally use wallets on his own(In India). I mentioned in one post that the yet to be launched Unified Payment Interface(UPI) would be so simple that kids would want to use it to pay for their daily dose of kinder joy. This question obviously goes to the very basic issue of a child turning major. My answer would be it depends on the temperament of the child and whether he/she will disclose the password to someone. A very apt topic of research for sociologists. May be someone could write something on "Banking for the toddlers"...(quip)

Since wallet spending is traceable, would it not be more safer for kids to carry cash in a mobile wallet than in cash? If so would it make sense to reduce the age by which a kid can use a wallet legally? The answer is a big Yes, I hope.

So a kid may want to purchase something in his school canteen or stationery and may want to use a wallet for that. He may even pay his fees or exam fees that way provided a secure/special way is found. Now are the wallet companies willing to sell their product to the youngsters is the question. And is the government willing to reduce the legal age by which a person can use a wallet offered by a payment bank? I am sure such questions are being asked only now that we have come across a special situation. The answer needs to be searched pretty soon.
Currently the only check that is done in on boarding a customer by the wallet companies is an email address verification. If aadhaar based authentication is performed then an issue may arise where age of user is known and may be too low to service the request. We all have read news reports of two year olds using apple phones to purchase goods without their parents knowledge.
P.S: I hope i am not wrong on this and that just like a minimum age for banking even wallet use does indeed have a minimum age requirement. I do understand the cash in wallet is meant to be spent and that the entire risk is borne by the user who loads cash into it.

Terrorism takes its toll on pakistan economy

When a country accuses its neighbor of being sadist and itself goes into suspicion and psychosis/paranoia there is something wrong. Every time, Indian defense budget increases are announced the Pakistani war mongers go into a huddle. They routinely poke India by sending a few terrorists to shoot at free will and bomb a few places, all that we do is to not play cricket with them for some time. Pakistanis throw expletives at Indians at the drop of a hat. Major complaint against India being not brave enough("kayar"). Historically Pakistani economy was doing better than India's due to better policy making and American help. Since Indian government launched liberalization and reforms Pakistan has realized that it cannot compete militarily or economy wise.

Since 1993 economic growth every year in Pakistan was lesser than in India. In four of the years Indian growth was twice that of Pakistan. Read More....

This is a sign of danger for the region especially with the rise of fundamentalists. It is the right time for Pakistan, which was traditionally more developed than India, to now stop and think for its own good.

Here is a graph of how the Indian Economy is racing ahead...

 All this despite the fact that Pakistan gets a big lift from the GCC countries in the form of Aid. Even the Chinese give technical and military support. Typical backstabbers as they are, would not mind if people in there, invite Chinese angst by acting like liberating Tibet or something. Here are ideas as to what Pakistan can do in this changing times to catch up. Many of the restive western Chinese cities are populated by the Uighur Muslims who cannot digest the fact that Islam followers are outnumbered by the Buddhists. The Chinese persecution of Uighur's continues as they do that indirectly to the Rohingyas in Myanmar too. Majority of the Chinese do not consider religion as important any how.

According to Pakistani historians India did not exist before 1947(OMG, that means vasco da gama set out to find Pakistan). Several Indian cities according to them have lottaa of child beggars. These views are shared by the Americans who until recently used to ask India? Where? and some of the more racist ones acknowledge that it is still a country of snake charmers.

Much water has flown down the Ganges since the last time visiting American presidents used to be entertained by snake charmers. Some Americans think India was discovered while all the other countries in the world either existed since ages or are yet to be invaded.

After creating problems(think about bombs dropped) in Japan, Vietnam and a variety of other countries the latest being Syria.... we in India are confused who the Americans think as their enemy? Plants and vegetation?

India is the only large country in the world which buys military equipment at full cost without strings attached(Read as alignment). We are non-aligned to any military grouping. The subtle foreign policy that India extends gets it a big intangible in the form of a soft power status. Our philosophy and statecraft are time tested.

All that's happening in the world now has played out ages ago in India and lessons from them are there for all to read and imbibe(at least this is what i know from those who have read the scriptures). Our ancient and revered Bhagavad Gita is nothing but encouragement by the lord to fight a just-war for the good of mankind.
Seeing human history war is nothing new and with evolution into guerrilla tactics and terrorism("the war of shock and awe") this too shall pass.