You are right Mr Stephen Dias. When one wants something desirable, one must prepare for it, not willy-nelly bring it through diktat. Before a cashless society can be brought in, a few simple processes should be introduced.
1) Cap bank fees to a minimum to make it affordable to the poorest customers. 2) Make it mandatory for banks to open an account for anyone who requires it, without restriction. 3) Flood the country with POS (point of sale gadgets), subsidized by the Central Govt. 4) No cash transactions personal or commercial for any amount over Rs 5,000. 5) Any cash deposited in banks for amounts over Rs 10,000 must be accompanied by a money laundering declaration. With the shadow economy eliminated and taxes accruing, several undesirable practises will cease not the least corruption. It is shocking to read that in India only 1% of the population pays taxes. Roland Francis Toronto. > On Dec 3, 2016, at 1:18 PM, Stephen Dias <[email protected]> wrote: > > Friends new technology promises that we will be able to pay without cash > everywhere, including tea shops, auto rickshaws, any roadside gaddas etc if > we use mobile apps on our smart phones. If everyone uses this technology > it'll help avoid cheating with false notes or issues with use of high > denomination notes etc > However, I am a bit pessimistic because many may not be able to learn to use > this tech and ultimately we may go back to square one. This is specially true > for the older generation. Poor people will be affected even more as they may > not be able to change their existing mobiles or buy new mobiles. Also there > is the additional cost of paying for Internet and lastly the feasibility of > having access to good steady Internet everywhere we go. We still don't even > have good roads everywhere. > > Stephen Dias > Dona Paula > 4.12.2016 > > Sent from my Samsung device > > <VID-20161203-WA0176.mp4>
