India’s Cashless Success

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With Narendra Modi’s brave, forward thinking, plan to transform India’s economy from an antiquated paper money economy into a sophisticated digital cashless system, for the most part, being smoothly implemented – it’s time to report on some of the fantastic achievements.

Following demonetization on November 8th, many villages patriotically got behind Modi’s dream and entered into friendly competition with one another to see which villages could be first to go completely cashless. This friendly spirit of competition has delivered amazing results with many thousands of villages now successfully eliminating dirty paper money from their local economies. They will begin to see the benefits of digital almost immediately.

Akodara, a village in Gujarat, became India’s first digital village in 2015 (a full year before demonetization) and is now reaping the benefits of a cashless economy. The local economy has really picked up with everyone enjoying the ease of digital transactions. “Going cashless has many alternate routes, like card payments, net banking and mobile payments” reports Navtej Singh, a local haberdashery shop owner. Singh also mentioned that as his village had the good sense to already have cashless systems up and running before demonetization, he had suffered no loss of business – in fact his sales have grown a full thirty percent. It is likely that the villages who have converted to cashless following demonetization will see similar growth in the near future.

Mumbai schools have introduced cash cards, food coupons and mobile wallets for students to buy stationery, snacks and beverages on campus for the upcoming academic year. School fees will be collected via internet bank transfer – with almost no schools accepting cash. It is an extraordinary victory for modernity to have almost the entire city of Mumbai’s schools go cashless. For students, already being digital savvy, it is a small step to completely remove cash from their day to day habits – but to have parents and teachers also embrace cashless is a remarkable achievement.

With the entire nation of India on the cusp of a huge economic leap forward – it is time that we in the West take notice and demand that our governments and central banks also do away with cash, without delay.

ExpatLogger
ExpatLogger

That roll of OBSOLETE bills looks suspiciously like Benjamins. Russian programmers hacked AT again, replaced the original Mahatmas with US 100$ bills. If you don’t believe me, check them for traces of cocaine!

Black Lives Matter

Time for a gift economy. Real communism will soon arrive. This is so exciting.

MillionDollarBonus

A gift economy will also vastly reduce carbon pollution by raising more funds for the government to invest in sustainable green technologies. This is a matter of saving the planet, not just freedom and prosperity.

drb6
drb6

I might say that the problem is never with communism. The problem is with last 50 attempts to implement it – it was never done right! But this time it will be different.

Pbier
Pbier

Exactly. Communism is a fantastic idea that was just ahead of its time. It will work best with a fully integrated cashless economy where everyone is chipped, which is just around the corner,

MillionDollarBonus

Agreed. Communism works perfectly in theory, but sadly it hasn’t worked in practice due to mismanagement. But now we have advanced central banking and economic planning, so I’m confident we can pull it off this time.

Sugarlock
Sugarlock

☭☭☭☭☭☭From each according to his ability, to each according to his needs.☭☭☭☭☭☭

Black Lives Matter

That should be enshrined in the Constitution and the UN Charter.

MillionDollarBonus

Excellent article Rich! It’s so awesome to see India showing the world how it’s done. Why would anyone object to a cash ban unless they intend to engage in illegal activities?

After cash is phased out globally, the next frontier is to ban cryptocurrencies, which are nothing short of economic terrorism, and then hard assets such as gold and silver. We also need to make sure people are not hoarding other valuable assets such as artwork and real estate, without taking appropriate loans from a bank. If you want to own real estate, you need to take out a mortgage. It needs to become mandatory that all purchases are made with credit. That way, there is no escape from the banking system, helping to maximize economic growth and freedom.

drb6
drb6

Perhaps we should follow the example of a highly successful state such as Soviet Union and ban private ownership of gold other than some minor amounts of jewelry? Then gold would be controlled by accredited experts and could not be used for terrorism. I read somewhere that Germany is about to control gold flows since gold is the cause of “Christmas” terrorism since it can’t be radical Islam that caused the attack.

Pbier
Pbier

It was another lone wolf who did the attack. It is impossible to stop lone wolf attacks. Not only do lone wolves kill people, worse still, they make the moderate Muslim minority potential targets for hate crime in the mistaken belief their religion is somehow to blame.

MillionDollarBonus

What I want to know is how he was able to acquire a high-powered vehicle and simply drive it into a crowd of people? How did this guy get a driving license? We need to seriously look into doing proper background checks before issuing driving licenses, and set up a no-fly list of potential terrorists who are barred from driving.

Pbier
Pbier

I’d put all Republican voters on this list asap as well as all white men, Christians and carnivores, you can NEVER be too careful

MillionDollarBonus

Not surprisingly, it’s these very people who are most likely to object to common-sense driving laws. We need a no-fly list NOW.

drb6
drb6

And also a comprehensive ban for suspected terrorists to own and operate high-powered assault vehicles.

jfb

80 to 90% of the 500 and 1,000 Rupees former bank notes have already been deposited. During his election campaign in 2014, Modi promised to deposit more than Rs 1.5 million (~$22,000) in each poor person’s account once the government had seized all black money. If you sum up, this is more than the US GDP alone! Most Indians back Modi for obvious reasons, he is a pure genius!

vdv
vdv

Genius requires a foundation and “surgical strikes”. Aadhaar (means base or foundation in Hindi) is India’s unique ID program, to track a person for his entire life. Now we have ongoing surgical strikes against “black” money. This follows the successful model of Al Qaida (base or foundation in Arabic) and surgical strikes in the middle east.
No one can stop the democratic aspirations of the people to be ruled by elites.

jfb

The war against Al Qaida is a success in spite of the Russian obstruction and I’m sure that Modi will eliminate corruption in spite of Pakistan’s obstruction with their counterfeit notes. It would be a good thing if the Indian accredited media establish a list of fake news websites who refer to an imaginary credit crunh in India.

Drama
Drama

Good evening, Aadhar in the context of India’s Unique ID means support and assistance. Aadhar card holders are also eligible get Govt. support and assistance for life! We Indians need not fear anymore from problems such as hunger, malnutrition, theft, forced labour, social outcaste stigma, etc., once we get our very own Aadhar (support!) card!
Using Aadhar card, Govt. will now directly transfer the benefits to us which we are rightfully eligible for! There is no need of any cash or gold or any other form of wealth! KUMBAYAA!

TrueDat
TrueDat

You guys are not progressive think Ng wnough. We dont need money in any form. Money was just a construct of old whitey used to keep gender nonspecific people of color down.

Its finally time to do away with money conpletely and let the economy finally be free of the enslavement money produces.

just think how special the world will be!

Sugarlock
Sugarlock

I wanted to tell new readers who enjoy this article that Accredited Times has had other similar articles, including “Modi’s Cashless India,” “Filthy Cash,” and “The Inevitability of a Cashless Society.” You can find them using the Search Box at the top of the web page.

JohnnyCash
JohnnyCash

Now y’all startin t’piss me off.

#hate-speech

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