How Demonetization Is Affecting India’s Citizens
Bitcoin.com (BC): As an ordinary Indian, what effect 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 actions. I had to begin with exchanging the old 1000 and 500 rupee notes at banks which is. Discomfort is caused by changes in the rules concerning the demonetization procedure on a regular basis by the Government of India as you had to keep up with the deadlinesturning stone casino bitcoin bitcoin penguin casino reddit I don’t know what the government is attempting to accomplish. New rule every three days and bitcoin casino no deposit bonus code. Individuals 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: Originally, the vast majority of Indians welcomed the demonetization move. They believed that it would wipe out corruption, hoarding of money and the financing of terrorism. As days passed by, the effects of the demonetization process made Indians question the effectiveness of the move. More than 80 people have lost their lives due to different reasons ranging from standing in long queues at banks for 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’t happen overnight. The transition will be easier for urban India in comparison to rural India due to integration of the banking system in areas that are metropolitanBetcoin rating EWallets like PayTm, Freecharge, Ola Unified and Money Payment transactions are facilitated by Interface applications to a great extent.
It is essential 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 there is a 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 have heard about bitcoin. I am learning the technicalities of the bitcoin system. I’m looking forward to using them shortly, though bitcoins may not function as a remedy for the demonetization process immediately. I am comfortable with electronic transactions for the time being.
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 process. The government might have done better as far as preparation, and implementation of the demonetization move is concerned. I am looking forward to the results the demonetization move is yet 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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