Nov 11, 2016 - E-transactions: A fillip to the cashless economy

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
The demonetization program has been received well for the most part and full marks to the government for doing something that will definitely help India in the medium to long term. There are some minor logistical issues as banks scramble to handle the long customer queues. Several daily wage earners are going through moments of anxiety as bank branches run out of notes (our local HDFC and Bank of Baroda branches were out of cash most of yesterday). The government should continue to aggressively communicate the details on all media so panic doesn't set in. I haven't seen any credible loophole theories yet, but wonder why the Rs 2000 bill is being introduced - seems like it will help create future black money. Mr Chidambaram and others have questioned this. For a detailed analysis, including historical precedents, read the full TradeBriefs Exclusive here

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