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How Demonetization Is Affecting India’s Citizens
Bitcoin.com (BC): As an ordinary Indian, what effect has the demonetization had on you so far?
Sameera Pandilakshmi
Sameera Panddilakshmi (SP): In actuality, demonetization has had a negative effect on the way I carry out my daily actions. With exchanging the rupee notes at banks which is highly 19, I had to start. Changes in the rules regarding the demonetization process on a regular basis by the Government of India causes discomfort as you had to keep up with the deadlinesbitcoin purchase casino instant use bitcoin for ignition casino I don’t know what the government is trying to accomplish. New rule every 3 days and bitcoin casino no deposit bonus code. People have everywhere to feelings that are bitter. There’s a sense of urgency attached to even simple chores like shopping in a supermarket store/supermarket, paying electricity 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 considered that it would wipe out the financing of terrorism, hoarding of black money and corruption. As days passed by, the effects of the demonetization procedure made Indians question the effectiveness of the move. More than 80 people have lost their lives due to different reasons ranging to being denied treatments from standing at banks for long hours.
BC: From the perspective is a cashless society possible in India?
SP: The complete transformation of India into a cashless society is a possibility, though it can’t happen overnight. The transition will be more easy for India compared to rural India due to integration of the banking system in urban areasbitcoin casinos reviews review bitcoin casinos reviews EWallets like PayTm, Freecharge, Ola Unified and Money Payment transactions that are electronic are facilitated by Interface software .
It is imperative to remember that more than 80 percent of the Indian population resides in rural areas and the government has been working on various schemes that aim 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 proved to be a starting point for electronic transactions among rural individuals. It is imperative for the authorities to inspect and improvise payment initiatives on a regular basis to ensure that a smooth 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 learning the technicalities of the bitcoin system. Though bitcoins may not function as a remedy for the demonetization process immediately, I’m looking forward to using them shortly. I’m comfortable with digital transactions for the time being.
BC: How does the situation make you feel about government and rulers?
The demonetization procedure has caused a great deal of inconvenience. The right to trade and the right to life was affected during the first days of the demonetization procedure. The government might have done better as far as planning, and execution of the demonetization move is concerned. I am excited about the positive results the demonetization move is to yield.
What do you think about India’s demonetization policy? Share your views in the comments below.
Pictures courtesy of Sameera Pandilakshmi
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