The day 8th of November, 2K16 is a remarkable day in the history of India. Because on this day a very bold and courageous decision has taken place. Yes! You guess it right it was once for all – DEMONETIZATION. The Government of India had banned all the existing notes of 500 and 1000 over a night. They also issued the new 500 and 2000 rupee notes in place of the old existing ones. Whole nation took it as a surprise. Till late night of 8th Indian couldn’t believe it. But on the very next day everything has changed and people of India didn’t know how to react.
That prompt action of DEMONETIZATION was not coherent. It has its advantages as well as disadvantages. The step was taken to curb corruption and black money. Those who are culprits and accrued lot of black money there problem increases. But it goes horribly wrong as black money holder didn’t faced any major problem and on the other hand common people were the victims of DEMONETIZATION. Every Indian has stand in queue of the ATMs for hours and then also striving for cash. Because no one in the market excepting the old notes. And common people didn’t have any sources to get the new notes easily.
Though common people has faced many problems due to DEMONETIZATION but they remain united and also support the decision of demonetization. Because they knew that it will work for their betterment only. After demonetization there is a kind of chaos everywhere. But what comes out to be the real thing is CASH LESS ECONOMY.
Through DEMONETIZATION government promotes CASH LESS ECONOMY. Which means use of electronic medium or internet to pay your daily expenses. You don’t have to use paper money rather you use electronic money. When each and every citizen of India use this feature and go cash less. Then it would become easy for the government to track the money launderer and people involves in corruptions.
Now when using different techniques for payments. We have POS (point of scale) system, many applications like BHIM, PAYTM and so on. If you are doing any online transaction then there are many payment gateways which are 100% safe and secure. When someone go for online transaction first thing comes in mind is, it is safe or not. Until you’ll not share your account details with someone it is completely safe and secure.
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Thank you so much if you are reading this. Have an awesome day!!!