Panaji: Five Years After Former Defense Minister of Union Manohar Parragar asked the cave to be used as the country without the first cash in India, the Minister of State for Finance Bhagwat Karad on Wednesday made a similar call, and gave bankers 3-4 months to fully eliminate cash, Catch them with surprise.
Karad, who chaired the State Level Banker Committee (SLBC) meeting in Panaji, said that the strong cave banking network, high income per capita and high literacy could make the transition to the economy without cash faster.
“Goa’s banking position is very good, now we have to move forward and declare Goa as a digital transaction country,” Karad said.
“Cash transactions, especially on gasoline and diesel, the pumps must be trained first.
The highest cash transaction at the fuel pump, then second in Kirana save (and) vegetable vendors.” Quoting his own experience to buy peanuts from street vendors on the street vendor Delhi uses the cellular payment application, Karad says that people must be able to pay for daily tea and food ingredients using digital media.
State Bank of India General Manager Sukhvinder Kaur told Karad that 30% of all payments in Goa were carried out in cash.
“From 30%, we have to reduce up to 0%,” Karad’s back shot.
“We have to make 100% digital payments.
If we can make two 100% Cave Digital Transactions …, we can say that there is no cash used in any village,” Karad said.
Indian works that work are almost not exclusively in cash, and the majority of the informal sector functions of the state on off-the-book payments.
According to data released by the Reserve Bank of India (RBI) earlier this month, there has been a 64% cash increase in circulation since demonetization.
Currency circulating increased from RS 17.7 Lakh Crore on November 4, 2016, to Rs 29.1 Lakh Crore on October 29 this year.
Bankers also told Karad that online financial fraud was a “byproduct” of the encouragement to online banking, and that those who did not understand digitally could fall prey to fraud transactions during the transition towards the system without cash.
Doctors and politicians also met with the minister of head of Pramod Sawant, who agreed with this step to make a 100% gave digital transaction status.
Karad and Sawant also said that the state would work to ensure that every citizen was covered by Pradhan Mantri Jeevan Jyoti Bima Yojana.
The private and public sector bankers show that poor cellular network penetration inhibits digital payments in Goa inland.
“I am from the center and here Puneet Kumar Goel (State Finance Secretary) comes from the state government.
Establish many cell towers as needed,” Karad said.
“The government must work to ensure that the internet reaches every part of the country.” Karad brings the problem of internet penetration, digital banking, adoption of the center scheme and credit growth during interaction with Sawant later.
Create Goa completely disrupt 3-4 months: JR fin min to bankers
