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 Pandilakshmi
Sameera Panddilakshmi (SP): In actuality, demonetization has had a negative impact 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. Distress is caused by changes in the rules concerning the procedure on a regular basis by the Government of India as one had to keep up with the deadlinesonehash app I don’t know what the government is trying to accomplish. New rule every three days and bitcoin casino no deposit bonus code. People have bitter feelings everywhere. There is a sense of urgency attached to even simple chores such as shopping in a supermarket 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 considered that it would wipe out corruption, hoarding of money that was black and the financing of terrorism. As days passed by, the effects of the demonetization procedure made many Indians question the effectiveness of the move. More than 80 people have lost their lives due to reasons which range from standing at banks for hours in long queues to being denied treatments at hospitals because of lack of currency 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, even though it can’t happen overnight. The transition will be more easy for India that is urban compared to rural India due to better integration of the banking system in metropolitan areasbitcoin casino slot machines bitcoin bonus casino codes EWallets like PayTm, Freecharge, Ola Unified and Money Payment Interface software facilitate transactions to a wonderful extent.
It is imperative 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 target 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. Improvise and It’s imperative for the authorities to scrutinize payment initiatives on a periodic 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 learning the technicalities of the bitcoin system. Though bitcoins may not serve as a remedy for the demonetization process I am excited about using them shortly. I’m comfortable with 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 has been affected during the days of the demonetization procedure. The government could have done better as far as planning, and execution of the demonetization move is concerned. I am looking forward to the positive results the demonetization move is yet to yield.
What do you think about India’s demonetization policy? Share your views in the comments below.
Images courtesy of Sameera Pandilakshmi
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Source: bitcoincasinoreview.info
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