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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 500 and 1000 rupee notes at banks which is highly 19, I had to begin. Changes in the rules concerning the procedure on a frequent basis by the Government of India causes significant distress as you had to keep up with the deadlines https://bitcoincasinoreview.info/ 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 everywhere to feelings that are bitter. There’s 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 considered that it would wipe out hoarding of money, corruption and the financing of terrorism. As days passed by, the consequences of the demonetization process made Indians question the effectiveness of the move. More than 80 people have lost their lives due to various reasons which range to being denied treatments at hospitals because of lack of currency notes of smaller 38, from standing in long queues at banks for long 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 not happen overnight. The transition will be easier for India in comparison to rural India due to greater integration of the banking system in metropolitan areashow to make a bitcoin casino usa bonus code bitcoin casino EWallets such as PayTm, Freecharge, Ola Unified and Money Payment Interface software facilitate digital transactions to a wonderful extent.

It is essential 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 been shown 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 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 presently learning the technicalities of the bitcoin system. Though bitcoins may not serve as a remedy for the demonetization process immediately, I’m excited about using them. I am comfortable with digital transactions for now.

BC: How can the situation make you feel about rulers and government?

The demonetization process has caused a lot of inconvenience. The right to life and the right to exchange was affected during the initial days of the demonetization procedure. The government could have done better as far as preparation, and implementation of the demonetization move is concerned. I am looking forward to the results that are positive the demonetization move is 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.info

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