I was cashless before. Since the time HDFC made its ATM card a Visa Electron. Found it better to keep track of expenses. However these days I am more cash than ever before. I never know when it will be demonetised. Some people are tech illiterate. Still prefer to stand in line to withdraw and deposit cash to send to relatives despite UPI. Its a mindset coming from a generation as well as regions of poor connectivity. Demonetisation was not the best way to achieve this. And even now, connectivity is poor in some villages. But it is also poor in Connaught Place, Delhi. I get Edge on Vodafone and Airtel. Paytm doesn't work. The backbone is weak. Society's cashlessness will balance out soon.
it is human tendency to resist changes. Hence,a lot of opposition to digital payment in URBAN India is because of the resistance to years old practice and the high transaction cost by banks and merchants.In rural india,digital payment would take a another 45 years to be popular. anyway, due to Demo effect,initial steps have been taken.
Re: Meaningless article
by V RAM MOHAN on Nov 12, 2017 08:01 PM
during demonetization govt never talked about cashless economy. but when most of the money started reaching banks they changed the goal post and started talking about cashless economy
I sincerely urge the PM and FM to spend a day in the remote village of any part of India with any debit , credit or paytm card with no public support. They will change their vision of digital India! Koi bhi -- ate hai....
I sincerely urge the PM and FM to spend a day in the remote village of any part of India with any debit , credit or paytm card with no public support. They will change their vision of digital India! Koi bhi -- ate hai....
Hardly 4% of the population understand this. I asked many villagers in not so remote areas, whether they do cashless transaction. THEY LOOKED AT ME AS IF I MA FROM MARS. SOME PEOPLE SAID HOW CAN ANY ONE TRANSACT CASHLESS. THEY FELT SOMETHING WRONG WITH ME!!!!!!
Re: Demonetisation effects
by rame gowda on Nov 12, 2017 07:54 PM
I m accepting Debit and Credit cards from customers but It is charged 2% from my receipts by the Banker. This is who's Money?
