How Demonetization Is Affecting India’s Citizens
Bitcoin.com (BC): As an ordinary Indian, what impact has the demonetization had on you up to now?
Sameera Panddilakshmi (SP): In actuality, demonetization has had a negative effect on the way I carry out my daily activities. With exchanging the rupee notes at banks which is highly 19, I had to start. Distress is caused by changes in the rules regarding the demonetization process on a frequent basis by the Government of India as you had to keep up with the deadlinestop 5 bitcoin casino bitcoin casino free faucet I don’t know what the government is currently trying to accomplish. New rule every three days and bitcoin casino no deposit bonus code. People have everywhere to feelings. There is a sense of urgency attached to even simple chores such as 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 majority of Indians welcomed the demonetization move. They believed that it would wipe out hoarding of black money, corruption and the financing of terrorism. As days passed by, the consequences of the demonetization procedure made many Indians question the effectiveness of the move. Over 80 people have lost their lives due to reasons ranging from standing at banks for long hours in long queues to being denied treatments at hospitals due to lack of currency notes of smaller denomination.
BC: From the perspective is a cashless society possible in India?
SP: the whole transformation of India into a cashless society is a possibility, though it can’t happen overnight. The transition will be more easy for urban India compared to rural India due to integration of the system in urban areasTrusted 7bit casino EWallets like PayTm, Freecharge, Ola Unified and Money Payment Interface applications facilitate transactions .
It is essential 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 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. Improvise and it is imperative for the government to inspect digital 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 have heard about bitcoin. I am learning the technicalities of the bitcoin system. I am looking forward to using them, though bitcoins may not serve as a remedy for the demonetization process immediately. I’m comfortable with electronic transactions for now.
BC: How can the situation make you feel about rulers and government?
The demonetization process has caused a great deal of inconvenience. The right to life and the right to exchange was affected during the days of the demonetization process. The government might have done better as far as planning, and execution of the demonetization move is worried. I am excited about the 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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