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Cash, AI, & Cinema in a Changing India
The Weekend Playlist
In partnership with
Good morning.
It’s easy to think we’re living through clean transitions—cash to digital, manual work to AI, theatres to streaming. But the reality is far messier, and more interesting. Cash is still moving at scale even as UPI dominates, AI is accelerating work without fully replacing it, and cinema is balancing star power with new storytelling formats. In this edition of the Weekend Playlist, we connect these shifts through three conversations that reveal how systems don’t disappear—they evolve, overlap, and quietly redefine how India works, spends, and creates.
WEEKEND EDITION
Cash Isn’t Dead. It’s Just Invisible.
It’s a question that comes up often: has withdrawing cash from an ATM started to feel like an anachronism—a leftover ritual in an economy now defined by QR codes and instant payments?
That thought doesn’t hold up for long.
In the Weekend Edition conversation, Govindraj Ethiraj speaks with Rajiv Kaul of CMS Info Systems, and the numbers tell a very different story: over ₹40 lakh crore in circulation, and a vast ATM network still moving cash at scale, every single day.
It forces a rethink.
Cash hasn’t declined—it has adapted. It moves through kirana stores, fuels consumption in smaller towns, underpins sectors like healthcare and fuel, and remains a fallback system even for the digitally fluent. The more one looks at it, the more it feels like India isn’t transitioning from cash to digital—it’s layering one system on top of another.
What emerges from this episode is not just a story about ATMs, but about logistics at national scale.
Forecasting demand. Moving currency securely. Replenishing over 70,000 ATMs. Managing risk, downtime, and geography. Companies like CMS are effectively running a real-time supply chain for cash—one that has to be precise, resilient, and invisible.
And unlike digital systems, this one deals with physical constraints: distance, security, human intervention.
Why cash is still growing
Three forces stand out:
Trust and ubiquity: Cash works everywhere, without friction.
Economic diversity: Large parts of India still operate in cash-heavy ecosystems.
Behavioural inertia: Convenience hasn’t fully replaced habit.
Even as UPI scales, cash circulation continues to rise—a reminder that financial evolution is rarely linear.
India’s financial system is becoming hybrid—where digital rails handle speed and scale, while cash continues to anchor accessibility and trust. The companies that understand both layers are the ones quietly powering the economy.
And perhaps that’s the most interesting part: the future of money in India isn’t less physical. It’s more complex.
Watch the full episode to understand how cash actually moves—and why it still matters.
One question worth asking: when was the last time one visited an ATM?
NASSCOM CONVERSATIONS
How AI Is Rewiring Real Estate
In the latest Nasscom Conversations, Govindraj Ethiraj speaks with Jody Mulkey, CTO of First American Financial Corporation, about how AI is fundamentally reshaping the real estate business.
The shift is structural. Traditional, document-heavy workflows in title and settlement are being replaced by AI-driven systems that automate processes, learn continuously, and execute with greater speed and precision. What once took weeks can now be completed in minutes.
Jody highlights how enterprises are deploying agentic AI and AI-assisted coding to unlock 2–5x productivity gains. But the real challenge isn’t the technology—it’s organisational change. Adapting to non-deterministic systems, rethinking workflows, and getting teams comfortable with AI-led decision-making remain critical hurdles.
A key insight: data exhaust—from emails, chats, and transactions—is becoming intelligence. Companies that can structure and leverage this effectively are gaining a decisive edge.
For professionals across real estate, financial services, and consulting, the implications are clear. AI is not just improving efficiency—it’s redefining roles, compressing timelines, and reshaping how work gets done.
THE CORE QUIZ
Who will succeed Tim Cook as the CEO of Apple? |
MEDIA ROOM
Stardom, Streaming & the Future of Indian Cinema
What really drives Indian cinema today—stars or stories?
In the latest episode of The Media Room, Vanita Kohli-Khandekar speaks with filmmaker Nikkhil Advani, founder of Emmay Entertainment, to unpack the shifting economics of the industry.
From Kal Ho Naa Ho to building a studio behind Rocket Boys and Mumbai Diaries, Nikkhil reflects on how storytelling has evolved alongside platforms. While OTT has expanded creative possibilities, theatrical films still lean heavily on star-led economics—a dynamic that continues to shape budgets, casting, and risk-taking.
A key tension emerges: India produces a high volume of content, yet remains a relatively small player globally. The reasons range from limited screen infrastructure to fragmented audience behaviour and evolving subscription patterns.
On the creative side, filmmaking is becoming more collaborative and data-informed. Feedback loops with platforms, research-driven writing, and audience insights are now integral—but instinct still plays a defining role.
The broader takeaway: Indian cinema is no longer one industry, but multiple systems operating at once—streaming and theatrical, scale and specificity, data and intuition.
And a quick one for you: are you choosing films today because of the star, or the story?
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