I have been using credit card since 1997 or thereabouts. I find it safe and convenient. Besides that I get 50 days' interest free credit and save the interest loss when by not withdrawing cash from my account across the counter or via an ATM. I have never had to queue up before an ATM. I believe that the demonetization was quite successful. Though a lot of high value noted did come back into the banking system against the expectations,much of that amount is now under investigation. The number of income tax payers has increased phenomenally in the past three years and the incidence of harassment by trafick police to extract bribes has declined noticeably. As a farmer, I have received subsidy on purchase of machinery directly in my bank account without numerous visits to the department to plead before the officials. That's new in India where bureaucrat is the king.
I have been using credit card since 1997 or thereabouts. I find it safe and convenient. Besides that I get 50 days' interest free credit and save the interest loss when by not withdrawing cash from my account across the counter or via an ATM. I have never had to queue up before an ATM. I believe that the demonetization was quite successful. Though a lot of high value noted did come back into the banking system against the expectations,much of that amount is now under investigation. The number of income tax payers has increased phenomenally in the past three years and the incidence of harassment by trafick police to extract bribes has declined noticeably. As a farmer, I have received subsidy on purchase of machinery directly in my bank account without numerous visits to the department to plead before the officials. That's new in India where bureaucrat is the king.
Look at the comment made by the Union Leader being interviewed: "people are not getting free education, free healthcare, free housing".
This is the mindset of commies. They want free everything. Even a country like Sweden does not give all these things for free. And they tax more than India. Such commies are the reason for all our troubles. THey have made 90% of our population lazy. Which is why China, despite being a commie country, is beating India in every sphere. Chinese people are hard workers.
It is true that the FRDI is hanging sword. The Government should publicly that announce that they are withdrawing the proposal. The banks are running shortage of cash because of said proposal and business sector is worried about deposit of cash in to the banks. ATMs are closed due to shortage money in the banks. Printing of Rs. 2000/- notes is a blunder and they are keeping all these notes (black money) in the bank lockers instead depositing in to the banks.
Every Middle Class people are fear about the Bank Charges deduction on net banking & withdrawals. So most of the people withdraw the amount required for monthly expenses after their Salary. I myself withdraw the amount required for my monthly expenses and make cash payments. So Banks should not deduct charges on net/online transactions. If banks don't deduct the charges then people will automatically go for CASHLESS transactions.
Re: Go Cashless
by bakchod on Apr 22, 2018 11:24 PM
I think this is not a valid excuse. I spend more than 90% of my monthly expenses using cashless methods. The small amount of fees charged doesn't make any significant difference to me. Maybe 100-200 rupees per month. I give more than that much to elderly beggars and poor people every month. The only reason I withdraw cash is to pay the maid and the car washing guy. And other petty expenses like auto fare, etc. Fact is that most Indians are backward thinking. that is why we are a third world country.
I have suffered at the hands of "cashless" persons who create a lot of delay st the check out counters of hotels, malls, supermarkets and even small businesses. They offer one card which is most times declined and then they flash another one & so on until it is accepted. Sometimes their PIN is wrong/forgotten. Sometimes the Net connection at the counter is so slow that it takes ages to get the transaction through.
Against this delay, the cash transaction is superfast. At times I leave a rupee or two of change if the person manning the counter does not have it. But it is all worth it as it is compensated by the speed and time saved.
Re: I will never go cashless...
by girish on Apr 20, 2018 10:26 AM
My experience is quiet different. After DEMON even grocery shop owners got accustomed to card transactions. Now I need not have to worry about cash. People have now got themselves educated and there are less cash transactions. Yes I come from city of Pune where net speed is good. Atleast I think city people should not crib about cashless transactions.
Re: Re: I will never go cashless...
by bakchod on Apr 22, 2018 11:28 PM
I totally agree with Girish. Using cards for purchases has become lot more easy now because thousands of new outlets are accepting it now after DeMometization. Its become widely accepted, even in small towns.
People like Niranjan are the reason why business people make crores of black money. If you paid everything by card and demanded receipts, black money generation will get eliminated.
Re: I will never go cashless...
by girish on Apr 20, 2018 10:27 AM
My experience is quiet different. After DEMON even grocery shop owners got accustomed to card transactions. Now I need not have to worry about cash. People have now got themselves educated and there are less cash transactions. Yes I come from city of Pune where net speed is good. Atleast I think city people should not crib about cashless transactions.
While there could be reasons for RBI to reduce money supply to the banks,the main issue is arun jaitley does not understand the nuances of economy of our country and if modi wants to Wade out of many of his imbroglios,he must get rid of arun jaitley from his cabinet imediately.
Re: RBI has reduced cash supply
by Rakesh Dandekar on Apr 20, 2018 11:52 AM
please bear another 12 months after election he may be loosing his FM post and will go some one who is efficient. this man is very much honest for only PM hence he got this post otherwise this will go to Smriti Irani she is very good in economics. wait for some time all problems will end till that time please bear with PM.
Re: Re: RBI has reduced cash supply
by bakchod on Apr 22, 2018 11:30 PM
please bear for some time. Soon Indians will vote for ISIS and hand over their womenfolk to ISIS for few rupees.
