After note ban, will Modi govt now ban cheque books for its digital push?

CAIT Secretary General Praveen Khandelwal said the government needs to encourage the use of debit and credit cards

After deciding to revoke the legal tender of Rs 500 and Rs 1,000 currency notes in November last year, the Narendra Modi -led central government might now be working on another disruptive step to boost digital transactions — banning the cheque book. A senior functionary of the Confederation of All India Traders (CAIT) on November 16 said the Centre might withdraw the bank cheque book facility in the "near future" to encourage digital transactions.

CAIT Secretary General Praveen Khandelwal said the government needed to encourage the use of debit and credit cards. "In all probability, the Centre may withdraw the cheque book facility in the near future to encourage digital transactions," he said.

Impact of cheque book facility withdrawal

Demonetisation was a big disruption for most Indians, right from poor labourers to big industrialists. Now, the withdrawal of the cheque book facility could have a massive impact as well. Most business transactions are conducted through cheques. According to experts, 95 per cent transactions currently take place via cash or cheques.

Since cash transactions have declined, transaction by cheque might have increased after demonetisation.

Use of cheque in India

Cheques are fairly popular in SME payments. By taking a PDC (post-dated cheque) against the delivery of goods, a supplier secures payments due in future from its customer. People pay by cheques while buying land and house, too.

Many landlords now take rent from tenants via cheque. Since November 8, 2016, digital payments like BHIM have grown. However, their sweet spot has been small-value payments (two to three figures). The retail and commercial payment usage strongly suggests that cheque is a very compelling method of payment for large-value payments (four figures and above).

Growth of digital transactions

The Narendra Modi-led BJP government has been pushing for a less-cash society. While digital transactions have shown mixed trends since demonetisation, overall cashless payments are much higher than in the pre-demonetisation months. (more)

Why Modi is keen on 3rd & 'final' cabinet reshuffle before 2019 polls

The long awaited cabinet reshuffle of the Narendra Modi government, its third and possibly its final before the 2019 Lok Sabha polls, is set to take place by Sunday afternoon.

Laggards among the ministers are being dropped. Performers among ministers of state, including those with independent charges, are set to be promoted. Some of the leaders who have excelled in organisational work will be included in the council of ministers, and some ministers asked to return to party work.

New ally Janata Dal (United) will get representation. Existing allies, who need to be placated in the run up to the 2019 polls, could get more ministerial berths. There is still no clarity on whether AIADMK might be included in the cabinet.

However, the shape of the forthcoming expansion and reshuffle would highlight the failures of the Modi government on some of its key promises – job growth and skill development, improvements promised in the farm sector and Ganga rejuvenation.

Also Read : Is Modi winning fake currency war? A data you shouldn't miss

In 2014 Lok Sabha polls, the Bharatiya Janata Party (BJP) had promised 20 million jobs a year if voted to power. However, job growth has been abysmal, and significantly lower than the last three years of the UPA 2 government. The PM and BJP chief Amit Shah have argued how the MUDRA Scheme has provided loans to over 80 million people, which in turn has provided employment in the informal sector.

But it's becoming increasingly apparent that the over two percent dip in GDP growth, the impact of demonetisation and inability of the industry to invest resulted in poor job growth. The Modi government’s plans to impart skills to a large section of the youths has fallen way short of its targets. Rajiv Pratap Rudy, despite his hard work in what was a newly carved out ministry in 2014, couldn’t meet the PM’s expectations as the minister of state (independent charge) for skill development and entrepreneurship. (more)

जनता की सहूलियत को ही नियमों की जुगत

जनता से संवाद स्थापित करने के अपने मासिक रेडियो प्रसारण 'मन की बात' में प्रधानमंत्री नरेंद्र मोदी ने एक बार फिर नोटबंदी का बचाव करते हुए इस दौरान बदले गए तमाम नियमों को भी जायज ठहराया। साथ ही उन्होंने संकेत दिए कि भ्रष्टïाचार के खिलाफ अपनी मुहिम को तेज करने के लिए सरकार जल्द ही बेनामी संपत्तियों पर भी शिंकजा कसने की तैयारी कर रही है। नोटबंदी के बाद कई बार बदले नियमों पर प्रधानमंत्री ने कहा कि जनता की ओर से मिली प्रतिक्रियाओं के बाद सहूलियत के लिए ही इतनी बार नियमों में बदलाव किया गया। बेईमानी और भ्रष्टाचार के काले कारोबार में लिप्त लोगों के खिलाफ सख्ती जारी रखने का संकल्प व्यक्त करते हुए मोदी ने पूर्ववर्ती कांग्रेस नीत सरकार पर बेनामी संपत्ति से जुड़े कानून को कई दशकों तक ठंडे बस्ते में डालने का आरोप लगाते हुए कहा कि वर्तमान सरकार ने बेनामी संपत्ति कानून को धारदार बनाया है और आने वाले दिनों में यह कानून अपना काम करेगा। आकाशवाणी पर प्रसारित संबोधन में मोदी ने कहा, 'मैंने 8 तारीख को (नोटबंदी की घोषणा के दिन) पहले ही दिन कहा था कि यह लड़ाई सामान्य नहीं है। 70 साल से बेईमानी और भ्रष्टाचार के काले कारोबार में कैसी शक्तियां जुड़ी हुई हैं? उनकी ताकत कितनी है? ऐसे लोगों से मैंने जब मुकाबला करना ठान लिया है तो वे भी सरकार को पराजित करने के लिए रोज नए तरीके अपनाते हैं।'

उन्होंने कहा कि जब वे नए तरीके अपनाते हैं तो हमें भी तो उनकी काट के लिए नया तरीका ही अपनाना पड़ता है। तू डाल-डाल, तो मैं पात-पात, क्योंकि हमने तय किया है कि भ्रष्टाचारियों को, काले कारोबारों को, काले धन को, मिटाना है। भ्रष्टाचार के खिलाफ कठोर कदम जारी रखने का संकल्प व्यक्त करते हुए मोदी ने कहा, 'मैं आपको विश्वास दिलाता हूं कि यह पूर्ण विराम नहीं है, यह तो अभी शुरुआत है। ये जंग जीतनी है और थकने का तो सवाल ही कहां उठता है, रुकने का तो सवाल ही नहीं उठता है।' उन्होंने कहा कि जिस बात पर सवा-सौ करोड़ देशवासियों का आशीर्वाद हो, उसमें तो पीछे हटने का कोई प्रश्न ही नहीं उठता है।' Read more

Breaking News :

• नकदी से भारी हो गई गाड़ी
• बीएमडब्ल्यू चीन में 1.93 लाख वाहनों को वापस मंगाएगी
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• दो लाख रुपये से अधिक प्राप्ति की रिपोर्ट करें : सीबीडीटी

Will supporters of demonetisation please click yes, PM Modi asks nation

Through 'Jan Jan Ki Baat,' Modi asked 10 questions to gauge the mood of nation post demonetisation

After ‘Mann Ki Baat’, the Narendra Modi government is experimenting with ‘Jan Jan Ki Baat’ to get people’s feedback on burning issues. Within an hour of the Prime Minister asking citizens of the country to rate his latest initiative—demonetisation—on his narendramodi app, there were 3,700 retweets and 7,900 likes on his Twitter handle. Soon, Jan Jan Ki Baat was trending on social media with ‘’cashless India’’ stopping to give its feedback on the banning of big notes.

It is not known yet how many have taken time out to assess the latest initiative of the government, but the questions asked are pointed. With several state elections lined up through 2017, the PM wants to be sure how people have responded to demonetization as a step to eliminate black money.

It’s a 10-step survey, beginning with a simple question—do you think there’s black money in India. Then it goes on to ask whether you think it needs to be eliminated and what you think of the government efforts in eliminatingblack money etc. From the fifth question onwards, the survey gets into demonetisation full steam. Question number 5: How do you assess the government move to ban Rs 500 and Rs 1,000 notes? One has to move the fingers along the wheel to rate, while green and red lights flash on the screen to suggest what your assessment is.Read more

Lining up at the ATM? Here's how your cash actually gets there

From the printing press to the ATM, its a journey that starts with calculations at the Reserve Bank of India

Everyone likes money, especially with the Modi government's Demonetisation policy in full swing. But how does the Rs 100 note, which has reasserted its real value, and the new Rs 500 and Rs 2,000 notes reach your nearest automated teller machine (ATM)?

From the printing press to the ATM, its a journey that starts with calculations at the Reserve Bank of India and culminates in the execution of a very complicated logistics plan.

From the printing press to the ATM:

1) Finding our the country's cash needs: The RBI first calculates India's annual cash requirement. According to an Indian Express report, the calculation takes into account the quantity of notes in circulation, those which might have been destroyed, and how many would be needed for replacement. Other factors, the report added, such as projected GDP growth and inflation are also accounted for. The process starts early in the calendar year, before the new fiscal year begins, and RBIinforms the Ministry of Finance about the amount of currency that needs to be printed.

2) Telling the printing presses: India has four printing presses: One in Nashik (Maharashtra), one in Dewas (Madhya Pradesh), another in Mysuru (Karnataka( and the last in Salboni (West Bengal). These presses print out the notes after an order is placed with them and instructions are received regarding denominations and quantity of notes to be printed. The high-security paper used to print the notes comes from the currency paper mills in Mysuru and Hoshangabad.

3) Distributing the notes across the country: Once the notes have been printed, they need to be distributed across 19 regional centres of the RBI. Along with these centres, there are 4,000currency chests which serve areas not covered under these centres and they too need to receive the freshly printed notes. However, as explained by the IE report, even after these notes have reached their destinations, they do not hold any value till they are backed by cash or securities of equal value.Read more

How can Modi transform India?

Why is Narendra Modi so popular among Indians?

NeelaLohith Penmetsa, Following Modi since 2013. He said..

I become an admirer of Modi ever since he came to the national stage. After learning about him slowly through various sources, he became my superhero and joined my list of idols like Sachin, Rahman etc. These are the people who I admire at a personal level.

Observing Modi I immediately understood that he is a MASTER of presentation and public relations. I believe that’s a great thing because we are living in a generation where presentation is everything. Actions and words can be well thought of but some reactions are instinctive. Such reactions come from a person’s true nature and value system.

I was watching Modi’s town hall meeting on youtube and saw a couple of such reactions from this man.

Context: Modi was felicitating the prize winners of some social governing initiative.

A young girl went up the stage to collect her prize touched Modi’s feet as a sign of great respect. His reaction to this was equally respectful regardless of his age and stature.

Another team went up the stage to meet him. As they were getting ready for their picture taken with the prime minister, Modi accidentally stepped on a person’s foot. He was super quick to apologise immediately both with words and action.

I guess this is one of the reasons why many like him. He behaves like a very normal and simple person even though he is the leader of a BILLION people.

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6-yr-old writes to PM, gets prompt help for heart surgery

Vaishali, a 6 year old child, was diagnosed with a hole in her heart.

Her family belonged to the Below Poverty Line (BPL) category but lacked documents for the same.

She was rejected medical aid by many hospitals.

That’s when she wrote a letter to our Honorable Prime Minister.

Within 5 days, her school authorities contacted her uncle.

As per the instructions of the PMO, the District collector and Health Officer arranged for an immediate meeting.

Ruby Hall Clinic came forward to her rescue and the operation was successfully conducted for free.

On June 26th, 2016, she met the man who changed her life.

The picture is in loving memory of that meeting.

The ability to reach out to common masses, in times of their need, keeps his popularity intact.

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Know more about How can Narendra Modi transform India?

Few years back our former Prime Minister Manmohan Singh invited the then Chief Minister of Gujarat Narendra Modi for a cup of tea. CM Modi, being a very self-respected man did not want to drink free tea. So he decided to give an idea regarding a problem of our country to our PM. The problem is as follows :

A huge portion of the border between India and Pakistan runs through the deserts of Gujarat and Rajasthan. For security from Pakistan we are constructing a fence on this land. But due to the condition of soil the fence keeps on collapsing.

Modi gave a solution to this problem. The solution was to ask the Border Security Force, which having its own technical staff and engineering group is an established organization, to construct solar power parks over this hundreds of square kilometers on the desert. This single task will get the following jobs done:

It will give the Border Security Force some work to do in desert. Thus creating new jobs and eradicating unemployment.

It will solve the problem of energy crisis as it will be a huge source of renewable energy.

It will act as a barrier which will make the job of trespassing in India from Pakistan much difficult solving the problem of security.

Therefore many problems will be solved after getting this job done. This is an example of killing many birds with one shot.

After reading my answer, you decide yourself how Modi can transform India. More about Narendra modi Click here

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