The entire write up is focused on comparing india with advanced countries of the world. The comparison is futile and perhaps biased.very high differences are there in population,demography,income levels,literacy,infrastructure and lifestyle.indian economy is altogether on a different level. We have made a begining,let us see its results over the next 12 to 18 months and then we can conclude.inbetween modifications need to be done. 62 years no p.m has attempted to take risk....risk n rewards are 2 sides of the coin.so be patient, india today is in safe hands, you will also benefit have faith
Niranjan, you are missing the point here... you say author has only commented negatively on going cashless and nothing negative about demonetization... WELL, going cashless or less-cash is very critical to avoid the demonetization efforts in future... if we are atleast 80% cashless, it means most people are in mainstream and paying taxes honestly, hence chances of black money making a come-back is very less.
Re: Niranjan Gandhi, you are missing the point
by NG Nileshwar on Jan 03, 2017 11:10 AM
This is precisely the grouse. I pay for the charges without any security of my monies. Neither the bank nor the company like PayTM would vouch for the responsibility for the safety of the transaction. Frauds are very common are to your account only. Yes, if your transaction is covered by insurance, possibly there is hope of relief, though not total. But no insurance company would cover the debit/credit card.
Re: Re: Niranjan Gandhi, you are missing the point
by sonya on Jan 03, 2017 05:54 PM
have you heard of Card Protection Plan they do cover multiple cards and insurance premium is not very high.
Does the Indian Constitution allow its Prime Minister to advertise for private companies like paytm , Jio , credit/debit card companies etc companies ? I would like to know the correct answer .
Re: india's wrong choice
by Satheesh KR on Jan 07, 2017 06:59 PM
Funny, if the PM says use your mobile, will you say he is giving advertisement for Apple, Samsung etc. If he says use you bank account then will you say he is giving publicity to HDFC, ICICI, Citibank etc. ?.
Cashless transaction is good. But it is laughable to exhorts Dhobi, Sabjiwala, chaiwala, Newspaper boys etc to be cashless. Government should leave aside its pretension and do something concrete about black money cash transactions. Everyone knows where black cash were generated and used. First, plug those holes.
Re: Cashless
by dillipkaundinya on Jan 02, 2017 11:35 PM
Ban cash use in: Political Donation Religious donation Purchase of any movable or immovable property, Purchase of gold and diamond Expenses at star hotels Any purchase at malls Any online purchases All air travels All tour and travel packages All educational fees above one lakh All Medical Expenses above one lakhs
Re: Cashless
by Navneet Bhatnagar on Jan 03, 2017 12:17 PM
Infact it is these marginalized sections of the employment community in India : washermen, sabzi wala, rehdi walla, chai walla, auto walla, that have taken to cash less transactions , be it in form of Paytm or otherwise. With this, the mundane problem of taking out Rs. 39/= for a liter of milk at Mother Dairy has gone, or paying Rs. 72= in exact value to the autowalla.
However the problem of disorientation for cash less transactionsis not with these small timers. The problem is with the large shops who are averse to accepting electronic payments due to a coupe of reasons. Here I am giving reference of Paytm , being the largest player in this sphere.
1. That the limit is of Rs. 20000= a month only 2. Till now, the money is transferred bato their bank is only once a month. 3. There is NO interoperability. Means a Paytm buyer has to deal only thru a Paytm seller. He can not transfer money to a user of any other e-wallert company. 4. The banks charge almsot 2% to the tragers on using the credit card. 5. The consumer has to bear this cost as well as the MDR , charged by his banker on making any payment through the debit card.
Till such time, the givernement does not force the banks to do away with the MDR and renove such interoperability issues, people will not endear to cash less transactions on their own free will. The moment they find cash availaibility has improved, they wll revert back to making payments through a wad of currency notes rather than through electronic mean
Re: Cashless
by Navneet Bhatnagar on Jan 03, 2017 12:18 PM
Infact it is these marginalized sections of the employment community in India : washermen, sabzi wala, rehdi walla, chai walla, auto walla, that have taken to cash less transactions , be it in form of Paytm or otherwise. With this, the mundane problem of taking out Rs. 39/= for a liter of milk at Mother Dairy has gone, or paying Rs. 72= in exact value to the autowalla.
However the problem of disorientation for cash less transactionsis not with these small timers. The problem is with the large shops who are averse to accepting electronic payments due to a coupe of reasons. Here I am giving reference of Paytm , being the largest player in this sphere.
1. That the limit is of Rs. 20000= a month only 2. Till now, the money is transferred bato their bank is only once a month. 3. There is NO interoperability. Means a Paytm buyer has to deal only thru a Paytm seller. He can not transfer money to a user of any other e-wallert company. 4. The banks charge almsot 2% to the tragers on using the credit card. 5. The consumer has to bear this cost as well as the MDR , charged by his banker on making any payment through the debit card.
Till such time, the givernement does not force the banks to do away with the MDR and renove such interoperability issues, people will not endear to cash less transactions on their own free will. The moment they find cash availaibility has improved, they wll revert back to making payments through a wad of currency notes rather than through electronic mean
