How Demonetization Is Affecting India’s Citizens
Bitcoin.com (BC): As a normal Indian, what impact has the demonetization had on you so far?
Sameera Pandilakshmi
Sameera Panddilakshmi (SP): In fact, demonetization has had an adverse effect on the way I carry out my daily activities. With exchanging the old 500 and 1000 rupee notes at banks which is highly 19, I had to start. As one needed to keep up with the deadlines, changes in the rules concerning the demonetization procedure on a frequent basis by the Government of India causes substantial distressbitcoin casino bonus code june 2017 starting a bitcoin casino I don’t know what the government is attempting to accomplish. New rule every three days and bitcoin casino no deposit bonus code. People have feelings that are bitter everywhere. There is a sense of urgency attached to even simple chores like shopping in a supermarket store/supermarket, paying power bills, filling up the tank, etc..
BC: Do you think many Indians are for demonetization?
SP: Initially, the vast majority of Indians welcomed the demonetization move. They believed that it would wipe out corruption, hoarding of money that was black and the financing of terrorism. As days passed by, the effects of the demonetization process made Indians question the effectiveness of the move. Over 80 people have lost their lives due to various reasons ranging to being denied treatments at hospitals due to lack of money notes of 38, from standing in long queues at banks for extended hours.
BC: From your standpoint is a cashless society possible in India?
SP: the whole transformation of India into a cashless society is a possibility, though it can not happen overnight. The transition will be easier for India in comparison to India due to integration of the banking system in areas that are metropolitanonline casino bitcoin list casino bitcoin no deposit bonus EWallets such as PayTm, Freecharge, Ola Unified and Money Payment Interface software facilitate digital transactions to a wonderful extent.
It is essential to remember that over 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 individuals. Improvise and it is imperative for the government to scrutinize 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 current situation?
SP: Yes. I have heard about bitcoin. I am currently learning the technicalities of the bitcoin system. I am excited about using them shortly though bitcoins may not serve as a remedy for the demonetization process immediately. I am comfortable with electronic transactions for now.
BC: How can the situation make you feel about rulers and government?
The demonetization procedure has caused a lot of inconvenience among people. The right to trade and the right to life was affected during the initial days of the demonetization procedure. The government could have done better as far as planning, and execution of the demonetization move is worried. I am excited about the positive results the demonetization move is yet to yield.
What do you think about India’s demonetization policy? Share your views in the comments below.
Images courtesy of Sameera Pandilakshmi
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Source: bitcoincasinoreview.net