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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 impact on the way I carry out my daily actions. I had to start with exchanging the old 1000 and 500 rupee notes at banks which is. As you needed to keep up with the deadlines changes in the rules regarding the procedure on a frequent basis by the Government of India causes discomfortBITCOIN LOTTERY rating 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 feelings that are bitter everywhere. There’s a sense of urgency attached to even simple chores like shopping at a grocery 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 process made Indians question the effectiveness of the move. Over 80 people have lost their lives due to different reasons ranging to being denied treatments at hospitals due to lack of currency notes of 38, from standing at banks for hours.
BC: From your perspective is a cashless society possible in India?
SP: The complete transformation of India into a cashless society is a possibility, though it can’t happen overnight. The transition will be more easy for India that is urban compared to rural India due to integration of the banking system in areas that are urbanbitcoin casino review reddit best online casino sportsbook blackjack for bitcoin EWallets like PayTm, Freecharge, Ola Money and Unified Payment transactions that are electronic are facilitated by Interface applications to a great extent.
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 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. It is imperative for the authorities to scrutinize and improvise digital 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 have heard about bitcoin. I am learning the technicalities of the bitcoin system. I’m excited about using them shortly though bitcoins may not serve as a remedy for the demonetization process immediately. I’m comfortable with electronic transactions for now.
BC: How does the situation make you feel about government and rulers?
The demonetization process has caused a lot of inconvenience. The right to exchange and the right to life has been affected during the initial days of the demonetization process. The government might have done better as far as preparation, and execution of the demonetization move is concerned. I am excited about 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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Source: bitcoincasinoreview.net
