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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 a negative 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 begin. As you had to keep up with the deadlines, changes in the rules concerning the demonetization procedure on a frequent basis by the Government of India causes discomforthow to make a bitcoin casino usa bonus code bitcoin casino I don’t know what the government is attempting to accomplish. New rule every 3 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 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: Originally, the vast majority of Indians welcomed the demonetization move. They considered 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 many Indians question the effectiveness of the move. More than 80 people have lost their lives due to various reasons ranging to being denied treatments at hospitals due to lack of currency notes of 38, from standing at banks for hours.

BC: From the 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 more easy for India in comparison to India due to greater integration of the banking system in metropolitan areasa href=”https://bitcoincasinoreview.info/777coin-casino-review”>777coin scam EWallets such as PayTm, Freecharge, Ola Money and Unified Payment Interface applications facilitate digital transactions 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 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. Improvise and it is imperative for the authorities to inspect digital payment initiatives on a regular basis to ensure that there is a 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 current situation?

SP: Yes. I have heard about bitcoin. I am learning the technicalities of this bitcoin system. I’m excited about using them though bitcoins may not serve as a remedy for the demonetization process immediately. I’m comfortable with transactions for now.

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

The demonetization procedure has caused a great deal of inconvenience among people. The right to exchange and the right to life has been affected during the initial days of the demonetization process. The government could have done better as far as planning, 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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