Demonetisation Reportcard and Way Forward

Demonetisation has been the top subject in the circle over the last 2 months. Below are some of the key polls results disseminated by LocalCircles in association with CNN-News 18.

You are invited to share what are the key issues faced currently in withdrawing and transacting digitally as well as the impact on earnings, spending, business as you are observing in day to day life so the key issues and steps needed can be communicated to the Government.

We look forward to your inputs! more  

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India is now modern country. So this is the best time to learn the basics of digital to the villagers and uneducated persons. So the duplicate money's will not come in hand of those are terrorism and the environment of black money will not not come back. more  
Neither we can have total capitalists' free economy nor a total socialist economy. The constitution of our diverse population and socio-economic status demand a mixed economy. Similarly, we cannot have a total cashless transaction. We need a mixed mechanism for transacting any business. Also, we need prior experiments conducted with the tools used for implementation of cashless transactions, particularly with payments to the sellers of goods and services that have to ensure that the system does not put additional financial burden on the buyers - keeping in mind the fact that demonetisation has left the citizens in the middle and low income groups with short of extra money. The payment mechanism e.g. through Paytm and other private service providers, and the PIO machines, has put an additional burden of 2%-2.1/2% on consumers without adding any value to the goods and service. Banks, as have also been raised by others in the voice, must not charge additionally for this service provided to the PIO operations as they earn plenty by using the consumers money held by the Banks by way of loans and investments. Further, the traders/retailers of all hues using PIO for payments to them, do absorb the additional expenditure incurred on purchase of these machines and the service as value addition to their margins. To an extent the demonetisation has been appreciated and felt desirable, but it has failed to check the future generation of black money. Professionals like advocates and doctors are not willing to accept the entire fees in white (through banking channels). Hence, the demonetisation to this extent is a failure and this information must reach the PM NaMo. more  
Digital payment system in India should be 100% owned by Indian company/Indian Govt with 100% Indian investment. Careful! more  
Make digital payment more safe. more  
It is the habit of the people to keep the cash in the wallet or at home. OLD HABITS , it will take some time to go. Few points to encourage the Digital Payments: 1. Make digital payment more safe. 2. Rewarding 3. Educate the Rural folks, the benefit of Digitalization more  
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