Day 11 of Training and Educating India about the Cashless Future, with the Guidance of Meenakshi Lekhi, a BJP Member of Parliement, hopes to successfully educate the public about digitalization and related changes. The residents of B K Dutt Colony spent their day learning about the infinite possibilities opened up by technology. Lekhi provides the technical information necessary for this shift from a cash-based to
completely cashless economy. Todays pains maybe tomorrows gains, was the underlined message of this seminar. Many residents sought help and guidance to figure out the cashless future they are eager to be part of, with one resident voicing her opinion on behalf of the entire Colony: Whats unseen, unknown and unheard of will now be available for learning. Lekhi also spread awareness about the possible dangers of cashlessness, ensuring that people had knowledge about the probability of misusage of CCTV cameras. She urged the people to be more responsible while typing in their passwords and more aware of their surroundings.
Demonetization has triggered the growth, unprecedented, of online payment modes and wallets. This spurt can be found in the data collected since the 8th of Novemeber, 2016, the night that the PM announced notebandi. PayTM is believed to have an increased traffic of 435% within two days, with a 400% growth in transaction value of offline payments. Razorpay, another such platform, saw a 150% growth in the morning after the 8th, which has reached 200% by that afternoon. MobiKwik, too, witnessed its online traffic increased 15 times the usual.
Online transference of money seems to be one of the ways to erase the black-money problem. Although online payment modes arent bulletproof or free of cyber security crimes, they do aim to make the money more accountable.