How Demonetization Is Affecting India’s Citizens
Bitcoin.com (BC): As a normal Indian, what impact has the demonetization had on you up to now?
Sameera Panddilakshmi (SP): In fact, demonetization has had an adverse effect on the way I carry out my daily activities. I had to start with exchanging the old 1000 and 500 rupee notes at banks which is highly time-consuming. As you had to keep up with the deadlines, changes in the rules regarding the demonetization process on a frequent basis by the Government of India causes discomfortcasino that takes bitcoin bitcoin high limit casino games 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’s a sense of urgency attached to even simple chores such as shopping at a grocery 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 considered that it would wipe out hoarding of money, corruption 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 from standing at banks for extended hours.
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 not happen overnight. The transition will be more easy for India that is urban in comparison to India due to greater integration of the system in areas that are metropolitan7Bit Casino casino EWallets such as PayTm, Freecharge, Ola Unified and Money Payment transactions are facilitated by Interface applications to a wonderful extent.
It is imperative to note 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 proved to be a starting point for electronic transactions among rural people. It is imperative for the authorities to inspect and improvise 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. I’m excited about using them though bitcoins may not serve as a remedy for the demonetization process immediately. I’m comfortable with transactions for now.
BC: How does the situation make you feel about rulers and government?
The demonetization process has caused a lot of inconvenience among individuals. The right to life and the right to trade has been affected during the first days of the demonetization procedure. The government might have done better as far as preparation, and implementation of the demonetization move is worried. I am excited about the results that are positive 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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