Re:India's Misguided War on Cash
by CmdrSprinkles on Tuesday November 22, 2016 @10:07AM
(#13014590)
In addition to what others have mentioned:
Part of this is teaching people to USE banks. A comparison would be how a lot of westerners don't understand how credit cards work and just think they'll get into huge debt. Then they use one and realize it simplifies life and is easy to maintain
But it sounds like there are follow-up actions planned. The President (?) of India is rumoured to be expected to give everyone 100 bucks worth of rupees next year as a "Sorry for the inconvenience" celebration with the stipulation that it goes into a bank account.
And I suspect there are a lot more steps planned. Likely benefits to using direct deposit rather than being paid in cash and other options.
Part of this is teaching people to USE banks. A comparison would be how a lot of westerners don't understand how credit cards work and just think they'll get into huge debt. Then they use one and realize it simplifies life and is easy to maintain
But it sounds like there are follow-up actions planned. The President (?) of India is rumoured to be expected to give everyone 100 bucks worth of rupees next year as a "Sorry for the inconvenience" celebration with the stipulation that it goes into a bank account.
And I suspect there are a lot more steps planned. Likely benefits to using direct deposit rather than being paid in cash and other options.