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Cheque bookd to be banned soon: Modi’s next step

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cheque

New Delhi:

The Central government is planning for another sensational step towards encouraging digital transactions and a less cash society. The government is wishing to ban the chequebook. Somehow transaction through cheques increased compared to the previous after the demonetisation. 91 percent of the cash still in the rotation after the demonetisation.

In the same way in our country, 95 percent transactions take place through cash and cheques. After the demonetisation, most of the people not showing an interest towards digital transactions. Keeping this in the mind Central government is planning for banning chequebook. The Central government has a target to increase the digital transactions from 1 Billion to 25 Billion (2,500 crores).

Khandelwal said at the launch of ‘Digital Rath’, a joint initiative of the CAIT and Mastercard, the government needs to encourage the use of debit and credit cards. The Central government spends Rs 25,000 crore to print the currency notes. The government spends another Rs 6,000 crore on their security and logistics.

If we encourage the digital transactions it would help to reduce the money we spend on printing notes. But financial experts and bank depositors are not ready to accept this news. They have expressed unwillingness to this matter. Already bank charges 1 percent on payments through debit card and 2 percent through credit cards. The government should incentivise this process by providing subsidy directly to the banks so these charges can be abandoned.

As per the Reserve Bank of India data, the digital transactions from November 2016 to September 2017 rose around 31 percent. From every thousand members, 180 to 190 people only using cards for payments. If it continues we can not reach the target. To attract the rest of 800 members towards the digital transaction we need to ban the cheques. Still the small and big business vendors are doing transactions through cheques. The Central government is thinking banning cheque is the only way to turn them towards digital transactions.

She is one of our prime authors in The Loop21.She covers almost all the sections. In the course of time, she invests her full time for TheLoop21 for the documentation of articles.She completed her post graduation in Microbiology.For a while, she worked as the teacher for both higher and lower medium students.She is very much aspired in visual graphics and knowing updates that happen every nook and corner throughout the world.Gets intrigued with the latest innovations around the world and likes to know the working model of it.

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INS Kalvari: Modi dedicated INS Kalvari Submarine to the Nation

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INS Kalvari

Mumbai:

India’s first modern conventional submarine, INS Kalvari was commissioned by our Prime Minister  Narendra Modi into Navy’s fleet in Mumbai on Thursday. PM Modi dedicated the submarine to the nation. PM Modi said this is a good example of the fast growing partnership and relationship between India and France.

Defence Minister Nirmala Sitharaman, Navy chief Admiral Sunil Lanba and Vice Admiral Girish Luthra, Flag Officer Commanding of the Western Naval Command, were also present at the submarine commissioning ceremony.

This Scorpene-class submarine INS Kalvari has been built by the Mazagaon Dockyard Ltd. French naval defence and energy company DCNS designed this submarine. IT has been built under the  Project-75 of the Indian Navy.

INS Kalvari 1

Defence Minister Nirmala Sitharaman mentioned the importance of the ‘Made in India’ submarine. She said it helps the Indian Navy in streamlining operations. PM Modi said  (more…)

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Twist in Vishal Nomination: EC rejects his Nomination

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Vishal

Chennai:

After the high drama and twists, the Election Commission again rejected the nomination papers of Tamil Nadu actor Vishal Krishna for the by-poll in Dr Radhakrishnan Nagar (R.K. Nagar) Assembly constituency. The nomination was rejected by the Election Commission because of some flaws in the nomination papers which were submitted by him.

Deepa the former Chief Minister Jayalalithaa’s niece, her nomination papers were also rejected by the Election Commission.

As per the instructions of the Representation of People Act, the candidate who is filing his nomination papers should be proposed by 10 members who are residing in the constituency.

The Returning Officer K. Velusamy said,  two persons – K. Sumathy and Deepan, whose names have been present in the list of proposers gave a written complaint about their signatures have been forged.

K. Sumathy and Deepan claimed that their signatures were forged. Chennai District Election Officer D. Karthikeyan said that whatever the order is made by the Returning Officer “is a quasi-judicial order and cannot be changed.”

Vishal submitted an audio clip which has the gist of the telephonic conversation between him and a man related to Ms Sumathy to the Returning Officer. In that Audio AIADMK candidate E. Madhusudanan and his supporter, Rajesh had threatened the proposer family members and they were asked to submit a written complaint to the Returning officer that their signatures were forged.

Vishal has released this audio tape at the press meeting. When Vishal submitted the audio tape to the officials they were accepted his nomination papers. But a few hours later the story repeated again the nomination papers of Vishal has been rejected by the officer. Officials announced at  11:30 that two persons of Vishal’s proposers came to us and told that their signatures were forged. So his nomination was rejected.

Vishal Expressed his disappointment through twitter. He wrote Democracy at its lowest low !! and Disheartening to hear that the nomination made by me was initially accepted & later when I left, has been announced as invalid.

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