How Demonetization Is Affecting India’s Citizens

Bitcoin.com (BC): As a normal Indian, what effect 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 rupee notes at banks which is highly 19, I had to begin. Significant discomfort is caused by changes in the rules concerning the procedure on a regular basis by the Government of India as you needed to keep up with the deadlinescryptogames scam 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 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 believed that it would wipe out the financing of terrorism, hoarding of black money and corruption. As days passed by, the consequences of the demonetization process made many Indians question the effectiveness of the move. Over 80 people have lost their lives due to reasons ranging to being denied treatments at hospitals because of lack of currency notes of denomination from standing in long queues at banks for extended hours.

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 not happen overnight. The transition will be easier for India in comparison to India due to better integration of the system in urban areasvegas casino accepting bitcoin bitcoin casino free btc EWallets such as PayTm, Freecharge, Ola Unified and Money Payment Interface applications facilitate transactions that are digital .

It’s essential 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 people. It is imperative for the government to inspect and improvise digital payment initiatives on a regular basis to ensure that a 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 function as a remedy for the demonetization process I’m excited about using them. I am comfortable with transactions for the time being.

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

The demonetization procedure has caused a lot of inconvenience. The right to exchange and the right to life was affected during the first days of the demonetization process. The government might have done better as far as preparation, and execution of the demonetization move is worried. I am looking forward to the positive results the demonetization move is yet to yield.

What do you think about India’s demonetization policy? Share your views in the comments below.

Images courtesy of Sameera Pandilakshmi

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