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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 up to now?

Sameera Pandilakshmi

Sameera Panddilakshmi (SP): In actuality, demonetization has had an adverse effect on the way I carry out my daily actions. I had to start with exchanging the rupee notes at banks which is highly time-consuming. Changes in the rules concerning the demonetization process on a regular basis by the Government of India causes discomfort as you had to keep up with the deadlinesTrueFlip review I don’t know what the government is trying to accomplish. New rule every 3 days and bitcoin casino no deposit bonus code. Individuals have bitter feelings everywhere. There is a sense of urgency attached to even simple chores such as shopping in a supermarket 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 believed that it would wipe out the financing of terrorism, hoarding of black money and corruption. 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 reasons which range from standing at banks for long hours in long queues to being denied treatments at hospitals because of lack of currency notes of 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, even though it can’t happen overnight. The transition will be more easy for India that is urban in comparison to rural India due to better integration of the system in metropolitan areasGet up to 1 Bitcoin Free on Bitcoin Lottery bonus code EWallets such as PayTm, Freecharge, Ola Money and Unified Payment transactions that are electronic are facilitated by Interface applications to a wonderful extent.

It is imperative to remember 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 individuals. Improvise and It’s imperative for the government to inspect payment initiatives on a periodic 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 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 I’m looking forward to using them. I am comfortable with 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 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 excited about the positive results 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

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