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 impact on the way I carry out my daily activities. With exchanging the rupee notes at banks which is highly 19, I had to start. Discomfort is caused by changes in the rules concerning the demonetization procedure on a regular basis by the Government of India as one had to keep up with the deadlinesthe highest payout for casino bitcoin bitcoin casino slot machines I don’t know what the government is attempting to accomplish. New rule every 3 days and bitcoin casino no deposit bonus code. People have feelings everywhere. There is a sense of urgency attached to even simple chores such as shopping in a supermarket store/supermarket, paying electricity 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 consequences of the demonetization process made Indians question the effectiveness of the move. Over 80 people have lost their lives due to reasons ranging from standing in long queues at banks for hours to being denied treatments at hospitals due to lack of currency notes of smaller denomination.
BC: From your standpoint is a cashless society possible in India?
SP: the whole transformation of India into a cashless society is a possibility, though it can’t happen overnight. The transition will be more easy for India compared to rural India due to integration of the banking system in urban areasBest Bitcoin Casino Review – 5bitcoincasinoreview.info EWallets like PayTm, Freecharge, Ola Unified and Money Payment Interface software facilitate transactions that are electronic .
It’s imperative to note 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. Improvise and It’s imperative for the government to inspect payment initiatives on a periodic basis to ensure that a 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 present situation?
SP: Yes. I have heard about bitcoin. I am presently learning the technicalities of this bitcoin system. Though bitcoins may not function as a remedy for the demonetization process immediately, I am excited about using them shortly. I am comfortable with transactions for the time being.
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 exchange and the right to life was affected during the initial days of the demonetization process. The government could 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 yet to yield.
What do you consider India’s demonetization policy? Share your views in the comments below.
Images courtesy of Sameera Pandilakshmi
Bitcoin.com believes in freedom of speech — and that’s what you will always find on our Forums. We do not censor anybody, no matter how controversial no matter what direction you support for the future of bitcoin and your opinion. All the experts hang out there; you are bound to find some good advice.