A Comment on levying of heavy charges on frequent cash transactions

My Comment on an article "Banks to levy Rs 150 after four cash transactions" published in the economictimes.com Dated 04/03/2017.


"It may not affect the common man as he will not need more than 4 transactions. But, business people will be burdened and so a good move by the Banks and government to curb their activities. 

You need to make only one or two cash transactions in a month. They are giving you more chances. 

Why not make card payments, cheque payments or mobile app payments? Try to learn things and manage new methods of payment. 

Our PM expects only this from you and he is not punishing you. See the good motive behind it and adapt yourself.

I am 65, but learning and doing all these things. Even age is no bar." 

A Comment on Ban of Cash transactions above Rs 3 lakh

My Comment on an article "Arun Jaitley bans cash transactions above Rs 3 lakhs" published in the economictimes.com Dated 01/02/2017.


"Why is it above Rs 3 lacs? Why not ban at Rs 2 lakh itself?"

"Further, it is clearly mentioned that the Rs 3 lakh limit does not apply to people having agriculture income. So, where is the problem? Why should one indulge in cash transactions for such larger amounts at all?"

Those who do not understand or have problems in perceiving the Rs 3 lakh limit or my comment may refer to sections 269 SS and 269T of income tax act and also to an article on Financial Express which explains it very clearly at this link.

A Comment on need to minimize the cash transactions

My Comment on an article "Government may lower limit for quoting PAN number for cash transactions" published in the economictimes.com Dated 19/01/2017.


"My suggestion to PM would be to minimize the cash transaction limit to Rs.20,000 for individuals and Rs.50,000 for businesses. Above those limits should be discouraged by imposing heavy transaction charges, that too in different layers of ascending order. 

If we want a cashless society we should do it more strictly without any leniency.

People should cooperate by switching to modern techniques of making payments even for a small value of articles." 

A Comment on making PAN must for cash transaction above certain limit

My Comment on an article "Government to soon make PAN must for cash spending beyond a limit" published in the economictimes.com Dated 07/10/2015 at 4:50 pm.


"I hope this will be a better way for tracking transactions more accurately. 

Making PAN mandatory for all cash withdrawals exceeding Rs.20,000 and for each purchase above Rs.50,000 can be a good measurement of authenticity of transactions. 

This will help in preventing unauthorised transactions and use of black money in most cases. Even though, it may not curb all transactions where the hoarders have already much unaccounted cash with them and thereby do not use banks or any registered / recognisable means of trading."