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 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." 

Hurdles in PM Modi's push for cashless economy and how to tackle the issues

My Comment on an article "5 hurdles to PM Modi's push for cashless economy" published in the economictimes.com Dated 05/12/2016.


"Even though these figures reveal a gloomy picture, we should not get discouraged or depressed in achieving the goal of turning Indian economy into a cashless economy. If one million POS machines can be installed within next 5 months as per expectations of our PM (let us assume that we can expect on a safer side even one lakh machines each month), it will definitely ease the transactions and we can move forward. 

Public awareness creation is also very important in the mean time. All TV channels should launch awareness ads demonstrating the use of various apps available for making purchases and payments using the mobile phones or other computers. People should also go door to door in rural and semi-urban areas to reach the masses and make them aware of the usage of apps for making cashless transactions to meet out all their daily needs."