How Demonetization Is Affecting India’s Citizens
Bitcoin.com (BC): As a normal Indian, what effect has the demonetization had on you so far?
Sameera Panddilakshmi (SP): In fact, demonetization has had a negative impact on the way I carry out my daily activities. With exchanging the old 1000 and 500 rupee notes at banks which is highly 19, I had to begin. As one had to keep up with the deadlines changes in the rules concerning the demonetization process on a frequent basis by the Government of India causes substantial discomfortbest bitcoin casino free play bitcoin casino real jack money I don’t know what the government is trying to accomplish. New rule every three days and bitcoin casino no deposit bonus code. Individuals have everywhere to feelings. There is a sense of urgency attached to even simple chores such as shopping in a supermarket store/supermarket, paying power bills, filling up the tank, etc..
BC: Do you think many Indians are for demonetization?
SP: Originally, the vast majority of Indians welcomed the demonetization move. They believed that it would wipe out the financing of terrorism, hoarding of money and corruption. As days passed by, the consequences of the demonetization process made many Indians question the effectiveness of the move. Over 80 people have lost their lives due to various reasons which range from standing at banks for hours to being denied treatments.
BC: From your perspective is a cashless society possible in India?
SP: the whole transformation of India into a cashless society is a possibility, even though it can not happen overnight. The transition will be more easy for urban India compared to rural India due to integration of the banking system in urban areas1xbitbitcoin casino EWallets like PayTm, Freecharge, Ola Unified and Money Payment transactions that are digital are facilitated by Interface applications .
It’s imperative to note that more than 80 percent of the Indian population resides in rural areas and the government has been working on various schemes that target financial inclusion.
Welfare schemes like National Mission for Financial Inclusion, Pradhan Mantri Jeevan Jyoti Bima Yojana (Scheme for Life Insurance), Pradhan Mantri Suraksha Bima Yojana (Scheme for Accidental Death Insurance) have encouraged rural Indians to come forward and participate in banking operations.
RuPay Card Scheme launched by National Payments Corporation of India (NPCI) has been shown to be a starting point for electronic transactions among rural people. It is imperative for the government to inspect and improvise digital payment initiatives on a periodic basis to ensure that a transition is to a cashless economy.
‘Learning the Technicalities of Bitcoin’
BC: Have you heard about bitcoin, and do you think it’s the remedy for your present situation?
SP: Yes. I’ve heard about bitcoin. I am presently learning the technicalities of the bitcoin system. Though bitcoins may not function as a remedy for the demonetization process immediately, I am looking forward to using them shortly. I am comfortable with electronic transactions for the time being.
BC: How does the situation make you feel about rulers and government?
The demonetization process has caused a lot of inconvenience. The right to life and the right to trade has been affected during the days of the demonetization process. The government could have done better as far as planning, and execution of the demonetization move is worried. I am looking forward to the results the demonetization move is to yield.
What do you consider India’s demonetization policy? Share your views in the comments below.
Images courtesy of Sameera Pandilakshmi
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