Demonetisation was a great interruption for Indian economy last year. As per the government, it was a step towards a Digital India in making, the beginning of a cash-less India. Now everyone is assuming that the BJP lead Government may take another revolutionary economic step to boost the digital transactions by BANNING THE CHECK BOOK.
“In all probability, the Centre may withdraw the cheque book facility in the near future to encourage digital transactions,” Praveen Khandelwal, secretary general of Confederation of All India Traders (CAIT), told PTI recently.
At the launch of ‘Digital Rath’, a joint initiative of the CAIT and Mastercard, he talked about this with the reporters exclaiming,
“The government spends Rs 25,000 crore on printing of currency notes and another Rs 6,000 crore on their security and logistics. Moreover, banks charge 1 per cent on payments through debit and 2 per cent through credit cards. The government needs to incentivise this process by providing subsidy directly to the banks so these charges can be waived.”