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 Panddilakshmi (SP): In fact, demonetization has had an adverse impact on the way I carry out my daily actions. I had to begin with exchanging the old 1000 and 500 rupee notes at banks which is. As you needed to keep up with the deadlines, changes in the rules regarding the demonetization process on a frequent basis by the Government of India causes substantial discomfortBest best paying bitcoin 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 bitter feelings. There’s a sense of urgency attached to even simple chores like shopping at a grocery store/supermarket, paying power 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 corruption, hoarding of money that was black and the financing of terrorism. As days passed by, the consequences of the demonetization procedure made many Indians question the effectiveness of the move. More than 80 people have lost their lives due to different reasons which range from standing at banks for hours in long queues to being denied treatments at hospitals because of lack of money notes of smaller denomination.
BC: From the standpoint 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 India due to integration of the system in areas that are urbanis bitcoin video casino legit bitcoin casino signup bonus EWallets like PayTm, Freecharge, Ola Unified and Money Payment transactions that are digital are facilitated by Interface software 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 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 been shown to be a starting point for electronic transactions among rural people. Improvise and It’s imperative for the government to inspect digital payment initiatives on a regular basis to ensure that there is a smooth transition 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 currently learning the technicalities of the bitcoin system. Though bitcoins may not function as a remedy for the demonetization process I am looking forward to 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 procedure 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 might have done better as far as planning, and execution of the demonetization move is concerned. 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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