How Demonetization Is Affecting India’s Citizens
Bitcoin.com (BC): As an ordinary Indian, what effect has the demonetization had on you so far?
Sameera Pandilakshmi
Sameera Panddilakshmi (SP): In actuality, demonetization has had an adverse effect on the way I carry out my daily activities. I had to start with exchanging the old 500 and 1000 rupee notes at banks which is. As you had to keep up with the deadlines, changes in the rules regarding the procedure on a frequent basis by the Government of India causes discomfortTrusted bitstarz casino I don’t know what the government is attempting to accomplish. New rule every 3 days and bitcoin casino no deposit bonus code. Individuals have feelings that are bitter everywhere. There’s a sense of urgency attached to even simple chores such as shopping at a grocery store/supermarket, paying power bills, filling up the tank, etc..
BC: Do you think many Indians are for demonetization?
SP: Originally, 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 Indians question the effectiveness of the move. Over 80 people have lost their lives due to reasons which range to being denied treatments at hospitals due to lack of currency notes of smaller 38, from standing in long queues at banks for hours.
BC: From the standpoint 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 more easy for India in comparison to rural India due to better integration of the system in metropolitan areasBitcoin Lottery scam EWallets such as PayTm, Freecharge, Ola Money and Unified Payment digital transactions are facilitated by Interface applications .
It’s essential 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 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 government to inspect and improvise digital payment initiatives on a regular 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 current situation?
SP: Yes. I’ve heard about bitcoin. I am presently learning the technicalities of the bitcoin system. Though bitcoins may not serve as a remedy for the demonetization process immediately, I am looking forward to using them shortly. I am comfortable with transactions for the time being.
BC: How can the situation make you feel about government and rulers?
The demonetization process has caused a great deal of inconvenience among individuals. The right to exchange and the right to life was affected during the first days of the demonetization process. The government might have done better as far as planning, and implementation of the demonetization move is worried. I am excited about 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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