How Demonetization Is Affecting India’s Citizens
Bitcoin.com (BC): As an ordinary Indian, what impact has the demonetization had on you so far?
Sameera Pandilakshmi
Sameera Panddilakshmi (SP): In actuality, 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 start. As one had to keep up with the deadlines changes in the rules concerning the procedure on a regular basis by the Government of India causes discomfortbitcoinpenguin bitcoin casino I don’t know what the government is attempting to accomplish. New rule every 3 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 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 considered that it would wipe out the financing of terrorism, hoarding of money and corruption. As days passed by, the consequences of the demonetization procedure made Indians question the effectiveness of the move. Over 80 people have lost their lives due to different reasons ranging to being denied treatments at hospitals due to lack of currency notes of denomination 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, even though it can not happen overnight. The transition will be easier for India that is urban in comparison to India due to greater integration of the banking system in areas that are metropolitanload bitcoin casino with paysafecard bitcoin live betting casino EWallets like PayTm, Freecharge, Ola Money and Unified Payment transactions are facilitated by Interface applications to a wonderful extent.
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 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 proved to be a starting point for electronic transactions among rural people. Improvise and it is imperative for the authorities to scrutinize digital payment initiatives on a periodic 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 current situation?
SP: Yes. I’ve heard about bitcoin. I am learning the technicalities of this bitcoin system. Though bitcoins may not serve as a remedy for the demonetization process immediately, I am excited about using them shortly. I am comfortable with electronic transactions for now.
BC: How can the situation make you feel about government and rulers?
The demonetization process has caused a lot of inconvenience among individuals. The right to exchange and the right to life was affected during the initial days of the demonetization procedure. The government might have done better as far as planning, and implementation of the demonetization move is worried. I am looking forward to the positive results the demonetization move is yet 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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Source: bitcoincasinoreview.net
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