More than 600 million Indians don't have cards. So how can the country ban cash?

[Logicaldude]

Ban cash?

The chinese trolls are really going mad.

 

[Indus Pakistan]

Well, I can see where this is leading to. More that number don't have sanitation facelities. I guess a ban on food is on order for them?

Help to clean the place up?


Hey @Logicaldude does that sound logical?

 

[Logicaldude]

Well, I can see where this is leading to. More that number don't have sanitation facelities. I guess a ban on food is on order for them?

Help to clean the place up?


Hey @Logicaldude does that sound logical?

Oh an (en)titled flame...

1st, there is no cash ban. Bills are being replaced

2nd in related development, this govt has already opened over 230million bank accounts since taking power

3rd yes the govt is pushing cashless transactions to bring our large unrecorded economy under the tax net

4th and since you are (en)titled to defecate on this thread, this same govt has built over 20 million toilets in rural areas and the program is ongoing

All these programs are not exactly vote gainers, but will benefit the masses in the end.

 

[alwaysfair]

If you take India's population to be 1.3 billion .
40 % Indians are below 18 years of age . So 780 million adults in India.
Women in workforce are 30 % in India rest are housewives.
So of 390 m women these 110 m need a bank account.
So 390 m men above 18 years plus 110 m working women equals 500 m working people in India.
How can the article claim a figure of 600 m when working population is 500 m ?

 

[maximdude]

If you take India's population to be 1.3 billion .
40 % Indians are below 18 years of age . So 780 million adults in India.
Women in workforce are 30 % in India rest are housewives.
So of 390 m women these 110 m need a bank account.
So 390 m men above 18 years plus 110 m working women equals 500 m working people in India.
How can the article claim a figure of 600 m when working population is 500 m ?

that is valid point.

 

[illusion8]

It was a brave and daring move, but he should probably have built up India's financial and banking infrastructure first.

If 600 million people don't have bank accounts, what are they going to do now that almost all of the cash notes have been made worthless?

This is a typical BS article by paid congress stooges. The idiots who fall for such...and I am seeing a whole lot of them on pdf.

That 600 million includes children below the age of 10 - you do not give credit or debit cards to kids. Let's exclude around 200 million from that.

That 600 million includes tribes who live in forests..We do not have them in the mainstream because they do not want to come into the mainstream...I would estimate a close to 100 million.

This is a bit sad but That 600 million include women, including Muslim women who do not step out of their houses to work or transact..We can take out another 100 million who depend on their spouse or a male member for finance.

There are close to 30 million illegal immigrants, a large portion of whom don't have bank accounts or accounts credit rating.

Plus there are many who haven't yet got into the banking system.

 

[Mamluk]

I think Modi's intentions are probably honorable, but he has not thought this through, or probably didn't think he needs to do so.

It's the opposite man.

No guy who can't think it through can become the PM of a nation of 1.3 billion people. It takes IQ to become a popular politician with cult following.

And Modi is not alone. He has advisers, technocrats and academics helping him out!

So none of them thought it through? Unlikely.

It's 10% "honorable" intentions and 90% politics, as I said before.

 

[third eye]

I don't think the banks are being supplied with enough cash, I think they are doing it with an intend to wean the people off the need of cash.

Its just stupid to make a move like this with half the people without any bank account.

I doubt Modi understands the pain he is causing with his big idea.

Big ideas tend to have unintended consequences.

The biggest hole in the chain are the banks themselves, AXIS Bank has stood out as the largest culprit, not there are no others. Numerous staff members have been nabbed siphoning off new notes in Crores while denying the same across the counter or at ATMs.

They are all being made an example of.

Surprisingly, in smaller towns the crisis is not so severe.

It's just politics. Playing his "tough image" and making people's lives miserable actually makes him more popular among the right wing segment.

The less a man knows the more emphatically he speaks. Just proved

Must be the vegan diet preventing them from revolting.

Ok, why in your opinion are the ' non vegan' people of your nation not revolting ? They have tolerated nonsense for decades.

Well, I can see where this is leading to. More that number don't have sanitation facelities. I guess a ban on food is on order for them?

Help to clean the place up?

Hey @Logicaldude does that sound logical?

Seriously , I expected better from you !!

 

[SBUS-CXK]

In a word, I still think that the monetary reform of Modi is very sudden.
It is irresponsible of him not to give the people any preparation time.

 

[SBUS-CXK]

We Indians are too shrewd, we would have consumed the preparatory time to fix our black money or to find a way around to fool the new policy.

We hardly act voluntarily, we had to shown stick to get things done.

Harsh but true.

Ancient civilizations will spread a lot of wisdom.
Including distorted ”wisdom"
I know your meaning very well, because this kind of situation also exists in China...
For example, Chinese Premier Li Keqiang asked the telecom operators to provide better services to the people, asked to “reduce expenses and improve speed". Telecom operators promise to change...But there's nothing to change.
So. China to cancel all the telecom operators？？？
This is the key.
You can't because your feet hurt cut your head .
Can't because of the occasional diet is not adjusted, interrupt all eating.
Can't because of the corruption of several officials, affect the interests of all the people.

This is irresponsible.

 

[alwaysfair]

Two you are wasting your time with your insideous posts. Indians will take a call based on their personal experiences , political leanings and media manipulations. You are a kid with your feeble attempts at trying to discredit Modi

 

[Shajida Khan]

Ancient civilizations will spread a lot of wisdom.
Including distorted ”wisdom"
I know your meaning very well, because this kind of situation also exists in China...
For example, Chinese Premier Li Keqiang asked the telecom operators to provide better services to the people, asked to “reduce expenses and improve speed". Telecom operators promise to change...But there's nothing to change.
So. China to cancel all the telecom operators？？？
This is the key.
You can't because your feet hurt cut your head .
Can't because of the occasional diet is not adjusted, interrupt all eating.
Can't because of the corruption of several officials, affect the interests of all the people.

This is irresponsible.

The way I see it, this is merely a prepration for a much bigger change. Digitization that is. It is important to note that only currency bill introduced in lieu of banned one is a higher denomination one which is even more cumbersome to use. This will force people to move to digital currency, even for small transections. This will also force enterpenures in India to produce cheaper solutions to digital payments as now there will be a big opportunity to introduce a fintech product which will fulfill the need. Modi has taken a top down approach here because in India bottom up approaches seldom work. They take too long. It is surely painful but then so are almost any disruptive change. Pain when necessary should not be avoided.

 

[cocomo]

Well, I can see where this is leading to. More that number don't have sanitation facelities. I guess a ban on food is on order for them?

Help to clean the place up?


Hey @Logicaldude does that sound logical?

I sometimes wish to write on your wall but I can't. Can you authorize me to access your profile if you don't mind that is

 

[Shajida Khan]

Well, I can see where this is leading to. More that number don't have sanitation facelities. I guess a ban on food is on order for them?

Help to clean the place up?


Hey @Logicaldude does that sound logical?

If only world and people were logical things would have worked out so well. Sanitation in India is not hampered by lack of facilities as much as by people's unwillingness to use them. You can drag a donkey to well but you cannot make it drink. So, no, a ban on food is not warranted but certainly people who do not want to use them need to be taught a lesson.

Same is happening with cash. India is slow in moving to digital means of payment which allow better scrutiny for tax purposes. This kind of economy needs to be crushed and yes some people will be hurt but then the balance of benefits are worth more than pain of those being hurt. Tax collection in India remains woefully low. It is about time all mom and pop shop owners start paying their fair share of tax as well.

 

[alwaysfair]

Are you sure the camel going to well is a proper saying. How will a camel drink from a well ?
Rest of your post i agree with. Indians need a kick start to try anything new.