I too have not visited an ATM since note ban and i stay in Kolkata. I am spending money daily as per my needs same way i used to spend before 8th November
No PayTM can replace teh value of cash in one's own hand !!! I think all the technology driven payments and banks are susceptible to some or other malice on the net, and it would be late before we got to know that someone had in fact siphoned away our hard earned money. Nothing as safe as paying by cash by our hand and nothing as safe as the old form of banking. Though when times such as these, we can afford certain risk, but in the long-term, it is but risky.
Re: No
by R Rawat on Nov 25, 2016 07:12 PM
If you are concerned about your money the safest option is to load PayTM with a smaller amount. It also helpful when there is problem of loose change.
Nobody can question the overall long-term benefits from demonetization of high-value notes. Ms Varma has indeed managed well but the undertone of mocking at those who have been forced to stand in queues [and some even paid the price with their lives] is quite discernible. The media [including this forum] is managed by educated town-folks and is also savoured by them …. leaving a vast chunk [67%] rural population out of reach and ken! Let’s not act like the proverbial frog-in-the-well and think proactively of the larger picture.
Re: There is a world beyond ATM and PayTM!
by V BM on Nov 25, 2016 07:08 PM
Completely agree with you I don't know of any small local grocer in my area who has a card swipe machine. ...By the way the author has not mentioned which part of India this woman stays. Also to buy the veg and fruits from Big basket she must be caring the hoot as to the cost factor of these things...She is not bothered about how much the items cost at the street vendor and how much it costs comparably at the Big Basket.....She cannot be a role model for me atleast.
People think it is their fundamental right to force others to use 'digital' money. It's a matter of choice. I find cash hassle-free for small value transactions.
this is one way of living using plastic money and people who have some knowledge of computers and mobile banking meaning the current generation and younger will have no problems but older generation people who are above 55 and not used to the plastic money and were using the old traditional methods may feel the pinch in converting to plastic money as they still feel that it could be misused by someone else as the trust factor at old age goes down as they cant cope with any loss of amount due to tech failure or misuse and the need to run around banks with complaints at various forums to get their money back.
Like how the mobile took all Indians within 5-10yrs of its start, similarly the plastic money will take another 2-3yrs before things settle down or even using mobile banking when people trust that its safe to use and its ease in using for older generations. As older generations still use old style mobiles meaning pre-smart phones, they will also need to fall in line especially it may be difficult for people who are in the rural region as there may be some scrupulous elements who in guise of helping may swindle the hard earned money of the poor.
This is just a rare case. Less than 5 % of people in India use plastic money or internet transactions. 95 % still use cash and demonetization has affected them. If government doesnt solve the problems as soon as possible, situation will get worse.
1. Every village has no Big Basket delivery, 2. washerman requires cash payment, so hdoes house maids. 3. In many places rents are also to be paid in cash.
Today I started my day with 9:00 am in the queue in the Bank. At 10:00 am the Manager told that there is no cash in the bank and cash will come at 12:00 pm. I went to my office and came back at 12:00 pm. There was a line not many but still quite a many. One hour in the line, manager announced cash has finished. Back to office.
Re: My ordeal
by J Swaminathan on Nov 25, 2016 05:11 PM
Such experiences are common to many in the past weeks. Banks who have the currency chest looked after their own branches first and gave less money to other banks. Hence such cash crunch created. Bankers did not show better management skills. Peoples too did not understand the difficulties faced by the bankers. Should have been better prepared for such exercise.