Thursday, October 28, 2021
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Demonetisation will pay way for cashless transactions

Note ban has led to a spurt in non-cash transactions. The demonetisation of Rs.500 and Rs.1,000 notes is now forcing people to use plastic money for purchasing essential commodities of day-to-day requirement. I urges the youth to be ‘soldiers of change’ in turning the nation into a cashless economy or at least a “less-cash” one. Prime Minister Narendra Modi’s dream of ushering in a cashless economy is laudable, but it requires drastic measures to discipline traders and business establishments. Modi has called for a movement to turn India into a cashless society, asking youth to teach their families, mobile and e-commerce technology. No doubt with the torment and anxiety caused by demonetisation will remain for some time, the spurt in the use of plastic money and e-wallets will prove to be a positive outcome, and  India can reduce the use of cash for many transactions.

(The views expressed by the author in the article are his/her own.)

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