A very good morning to one and all present here. Today, I’ll be giving a short speech on the topic ‘Cashless India’.
Cashless India, essentially, is a mission launched by the Government of India. It was an initiative for “Digital India”. It began with the goal of eradicating black money from society and making way for an India free of corruption.
In November 2016, India’s Prime Minister Narendra Modi took a drastic step of demonetization- 500 and 1000 rupee notes were banned and a new currency was issued.
Although it was initially hectic, this policy did manage to curb fraudulent activities. Today, with the advent of Gpay, Paytm, and similar apps, cashless transactions are seen as a welcome boon. Going from being able to make transactions with only those who have similar applications, now, anyone with a bank account can be paid to easily even when they don’t have these mediums.