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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 so far?

Sameera Pandilakshmi

Sameera Panddilakshmi (SP): In fact, demonetization has had an adverse effect on the way I carry out my daily actions. With exchanging the old 1000 and 500 rupee notes at banks which is highly 19, I had to start. As one needed to keep up with the deadlines, changes in the rules regarding the procedure on a frequent basis by the Government of India causes distresscasinomeister get the fuck casinos bonuses bitcoin deposit 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 feelings that are bitter everywhere. There’s a sense of urgency attached to even simple chores such as shopping at a grocery 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 black money 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 different reasons ranging from standing in long queues at banks for hours to being denied treatments.

BC: From the 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 compared to rural India due to integration of the banking system in areas that are urbanbest casino bitcoin bonus best casino bitcoin bonuses EWallets such as PayTm, Freecharge, Ola Money and Unified Payment transactions are facilitated by Interface software .

It’s 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 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 been shown to be a starting point for electronic transactions among rural people. It’s imperative for the authorities to inspect and improvise digital payment initiatives on a regular basis to ensure that a smooth 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 current 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 immediately, I’m looking forward to using them. I’m comfortable with digital transactions for now.

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

The demonetization procedure has caused a great deal of inconvenience among individuals. The right to trade and the right to life was affected during the days of the demonetization process. The government could have done better as far as preparation, and implementation of the demonetization move is concerned. I am looking forward to the positive results 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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