India cash crisis: 100,000 villages promised electronic payment machines

[endyashainin]

Don't these machines require electricity to run? How many of these villages have access to electricity, and how many of them have stable electricity supply? Who will manufacture these machines? How long will it take to manufacture and distribute them? This is just another case of empty talk.


https://www.theguardian.com/world/2...villages-promised-electronic-payment-machines

India cash crisis: 100,000 villages promised electronic payment machines
Every village will get two point-of-sale machines, promises finance minister in bid to ease anger at sudden removal of 500- and 1,000-rupee notes
Agence France-Presse

Friday 9 December 2016 02.58 GMT

Cash and card options exist at this New Delhi petrol station. India’s finance minister, Arun Jaitley, has promised card machines for 100,000 villages. Photograph: Dominique Faget/AFP/Getty Images
Tens of thousands of Indian villages will soon be equipped with card-swiping machines to boost cashless payments, the finance minister promised on Thursday, a month after the government banned high-value banknotes.

Prime Minister Narendra Modi sparked chaos with his shock announcement last month that all 500- and 1,000-rupee notes – which make up 85% of bills in circulation – would cease to be legal tender.

The move triggered a chronic shortage of cash with people queuing for hours outside banksacross the country to get rid of their old notes.

Cash accounts for 90% of transactions in India where millions rely heavily on notes for their daily purchases. People living in rural areas and individuals without bank accounts have been particularly hard hit.

To ease frustrations and speed up the switch to cashless spending, finance minister Arun Jaitley announced measures to promote the so-called demonetisation drive, including card-swiping machines for villages.

“There will be two point-of-sale machines provided to every village which has a population up to 10,000, and 100,000 villages will be selected for this purpose,” Jaitley said at a media conference. “This will benefit farmers covering a total population of nearly 750 million,” he said.

The sweeping abolition was meant to bring billions in so-called “black”, or undeclared, money back into the formal system.

Many have been left without enough cash to buy food or daily essentials, while farmers have been unable to buy seeds and small traders say business has fallen off a cliff.

Nonetheless, Modi has repeatedly defended the scheme, accusing its detractors of being tax evaders and repeatedly urging all Indians to switch to non-cash payment methods.

 

[C130]

how much electricity do you think these little things consume?

you can also use your cellphone to make electronic payments

 

[endyashainin]

how much electricity do you think these little things consume?

you can also use your cellphone to make electronic payments

Not much, but if you have no electricity to begin with, do you think these little things will work? Furthermore, many villages that have access to electricity only get a few hours of it each week at random times. Do you propose that people wait around the clock for the electricity to come just so they can use these machines? Moreover, how many villagers have a bank account linked to a plastic? You are dreaming here.

 

[C130]

Not much, but if you have no electricity to begin with, do you think these little things will work? Furthermore, many villages that have access to electricity only get a few hours of it each week at random times. Do you propose that people wait around the clock for the electricity to come just so they can use these machines? Moreover, how many villagers have a bank account linked to a plastic? You are dreaming here.

I see where you are coming from, but I don't think they mean to phase out all money. if they can reach 40% of the rural population with electronic paying that will still a success.

wonder if you use a battery to power these machines?? either lithium or a external 12V battery

 

[randomradio]

http://scroll.in/article/759215/ind...t-is-still-far-from-taking-power-to-all-homes
Overall 96% of India is covered.

And we have 1 billion+ mobile subscribers.
http://www.livemint.com/Industry/2z...subscribers-cross-1-billion-shows-Trai-d.html

I see where you are coming from, but I don't think they mean to phase out all money. if they can reach 40% of the rural population with electronic paying that will still a success.

wonder if you use a battery to power these machines?? either lithium or a external 12V battery

To date, we have demonetized 15T INR in old notes and printed 4T INR in new notes. But they say we won't be printing all 15T in new notes. So a large chunk will go digital.

Govt led digital payments services have seen an increase of up to 1000%. Established private players have seen a 400% increase while new players have seen up to 7000% increase.

 

[DrPuff]

I see where you are coming from, but I don't think they mean to phase out all money. if they can reach 40% of the rural population with electronic paying that will still a success.

wonder if you use a battery to power these machines?? either lithium or a external 12V battery

This guy is a troll. Don't mind him...
For poor the govt already had provided with free bank account & insurance long before demonization came into picture assuming whole thing was pre planned. The thing is poor can be easily brainwashed by politicians by creating misconception. ...
This step is also pushing masses towards online payments, card payments, wallets & people are getting the concept of it..
Also yes people are suffering in mostly rural areas but not too that extent what media is protecting.. By the end of this month hope to all ATMs working & by the end of January cash crunch will end...
Govt has it very poorly planned although it's a major needed step. Watching how corrupts are being suffered we are ready to face temporary difficulties..

 

[AndrewJin]

Not much, but if you have no electricity to begin with, do you think these little things will work? Furthermore, many villages that have access to electricity only get a few hours of it each week at random times. Do you propose that people wait around the clock for the electricity to come just so they can use these machines? Moreover, how many villagers have a bank account linked to a plastic? You are dreaming here.

I just smell money on behalf of Chinese companies.
ATMs, electricity generating equipment, from from China.

I see where you are coming from, but I don't think they mean to phase out all money. if they can reach 40% of the rural population with electronic paying that will still a success.

wonder if you use a battery to power these machines?? either lithium or a external 12V battery

lmao, a boy living in the west (i bet you've never experienced your parents or grandparents' life in vietnam without electricity) is whining about how easy to get electricity.....and u have to have internet to connect these machines! and first, they need to have a bank account!

 

[alwaysfair]

Andrew wont buying ATMs from China pose a security risk to Indias financial sector.
Using smartphones made in china can also be a major security risk.Everyday we hear about chinese hackers 'taking' info from american entities.
Hope the government has factored this into their digitisation drive. Most probably sleeping and hoping for the best.