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Mann Ki Baat: PM Modi bats for cashless society, appeals people to embrace e-banking, mobile banking

Prime Minister Narendra Modi in the 26th edition of his radio program “Mann Ki Baat” on Sunday addressed the nation insisting that the time has come to embrace e-banking, mobile banking and more such technology.

Prime Minister Narendra Modi, in the 26th edition of his radio program “Mann Ki Baat”, on Sunday addressed the nation insisting that the time has come to embrace e-banking, mobile banking and more such technology.

There were overwhelming suggestions before this edition of ‘Mann Ki Baat’ that there should be more talks on the demonetisation of Rs 500 and Rs 1000 currency notes. Modi said that demonetisation is a huge step and reiterated that it will take at least 50 days to fight against the ill that had been nourished for the last 70 years.

The PM said that some people are still trying to find a leeway and targeting poor people to hide their black money. Modi said that the government has made a very strong anti-Benami transactions law. “All over the world, economists and analysts are watching the effort of demonetisation drive and the patient participation of the citizens,” PM Modi said.

He praised restaurants, which were offering free food during the cash crunch and said everybody is trying to adjust in this situation, arising out of demonetisation. He claimed that small-scale traders are taking recourse to technology and are prospering. Modi urged small-scale traders to take a lead in cashless transactions.

“I will even urge daily-wagers to open bank accounts so that you get your wage without any deduction. A Cashless society is my dream. It’s true that 100 per cent cashless society is not possible. But at least, India can move toward a less-cash society,” Modi said.

He said every bank in India has its app, e-wallet and technology is becoming so advanced that you will not need a smartphone to avail of these facilities. The PM said, “There has been 300% increase in the use of Rupay card since poor people started using it; it is as simple as sending whatsapp.”

He said that he took the decision of demonetisation for the country’s poor, farmer, labour, deprived and for those who are suffering. “If everybody comes forward, we can become a less-cash economy within a month,” said PM Modi.

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