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 Pandilakshmi
Sameera Panddilakshmi (SP): In fact, demonetization has had an adverse impact on the way I carry out my daily activities. With exchanging the old 1000 and 500 rupee notes at banks which is highly 19, I had to start. Discomfort is caused by changes in the rules regarding the demonetization procedure on a regular basis by the Government of India as one needed to keep up with the deadlines I don’t know what the government is currently trying to accomplish. New rule every three days and bitcoin casino no deposit bonus code. Individuals have feelings that are bitter everywhere. There is a sense of urgency attached to even simple chores like shopping in a supermarket store/supermarket, paying power bills, filling up the tank, etc..
BC: Do you think many Indians are for demonetization?
SP: Initially, the vast 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 effects of the demonetization procedure made Indians question the effectiveness of the move. More than 80 people have lost their lives due to various reasons ranging to being denied treatments at hospitals because of lack of money notes of 38, from standing in long queues at banks for hours.
BC: From your perspective 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 in comparison to India due to greater integration of the system in areas that are metropolitanBtc casino review bitcoin casino top EWallets like PayTm, Freecharge, Ola Money and Unified Payment Interface applications facilitate digital transactions to a great extent.
It’s 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 individuals. It’s imperative for the government 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 presently learning the technicalities of this bitcoin system. I am excited about using them shortly though bitcoins may not function as a remedy for the demonetization process immediately. I’m comfortable with transactions for now.
BC: How can the situation make you feel about rulers and government?
The demonetization procedure has caused a lot of inconvenience among people. The right to trade and the right to life was affected during the days of the demonetization procedure. The government might have done better as far as planning, and implementation of the demonetization move is concerned. I am excited about the results the demonetization move is to yield.
What do you consider India’s demonetization policy? Share your views in the comments below.
Pictures courtesy of Sameera Pandilakshmi
Bitcoin.com believes in freedom of speech — and that’s what you’ll always find on our Forums. We do not censor anyone, no matter how contentious no matter what direction you support for bitcoin’s future and your opinion. Of the experts hang out there; you are bound to find some good advice.
Source: bitcoincasinoreview.info
