We all are shocked with demonetisation of 500 & 1000 note were no longer legal tender. All were awaiting for substitute as new 500/- and 2000/- notes. As 500 & 1000/- notes were 86% value of notes being circulated, it is impossible to replace all of them in real-time keeping things secret. We have questions that the activity can be carried out much better way without affecting common man. That's debatable. But demonetisation has give amazing push to digital money and keep India ahead of other countries.
Corruption: demonetisation was carried out to fight with corruption. Although we have news where few MLAs are caught with crores of new rupees notes. How they received it? Are we saying new notes cannot be forged? That's unreal printing machines can easily make new notes. Also circulating forged notes is even simpler as people are unaware to verify them.
ATM queue: although we have limit of 2000/- exchange, people find various ways of doing again and again, keeping lot people yet starving for money or exchange in black. It's a month passed, yet people waiting at ATM queue.
Corruption: demonetisation was carried out to fight with corruption. Although we have news where few MLAs are caught with crores of new rupees notes. How they received it? Are we saying new notes cannot be forged? That's unreal printing machines can easily make new notes. Also circulating forged notes is even simpler as people are unaware to verify them.
ATM queue: although we have limit of 2000/- exchange, people find various ways of doing again and again, keeping lot people yet starving for money or exchange in black. It's a month passed, yet people waiting at ATM queue.
Government Sector: Government should have enabled to transfer/collect bill with digital mode only. We have Bus service, traffic police, postal department, railway ticket counters not yet have PoS systems.
Delhi: Most shop owners not willing to try such digital money. House owner also expects amount in cash. Even electricity bill is paid for us in cash. If we can't change it to digital world, despite our will. How badly villagers would have affected.
Delhi: Most shop owners not willing to try such digital money. House owner also expects amount in cash. Even electricity bill is paid for us in cash. If we can't change it to digital world, despite our will. How badly villagers would have affected.
Incentive: When I transact with cash, no additional charge to be paid. When we think of PoS device, it has cost to shop owner. Government should incentives digital or charge for cash transaction.
Network: we are reliant on mobile network. In case you loose network, you either loose service.
It will be amazing when digital transaction can happen with both merchant and customer being offline. Best of luck to Narendra Modi to make this real success for Indian economy.
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