Prakash Javadekar encourages ‘less cash’ economy in Manipal visit2 min read
Manipal: Prakash Javadekar, Union Minister of Human Resource Development, addressed a gathering of around 150 people at college premises on January 10, where he encouraged youngsters to participate in his digital literacy campaign called Vittaya Saksharta Abhiyan (VISAKA).
VISAKA aims to transform India from a ‘cash society’ to a ‘less cash society’, under which volunteers share their knowledge of their latest digital payment/ transaction methods with at least ten families. “Start teaching your family first as charity begins at home,” said Javadekar. VISAKA volunteers will be felicitated with certificates and many digital payees will be rewarded. More than 2 lakh volunteers have registered till now.
Emphasizing on the misconception of money usually being referred to as cash, he stated that money is a medium of exchange which facilitates transactions and underscored on how digital money is the next stage in evolution of money. He also introduced the audience to the newly launched Bharat Interface for Money (BHIM) app, for android phones, which according to him is the ‘real game changer’.
BHIM is linked to 30 private and public sector banks which supports a transaction limit of maximum Rs. 10,000 per transaction and Rs. 20,000 within 24 hours. Eight million people have already downloaded BHIM. He also talked about other digital payment methods like e-wallets, Unified Payments Interface and Aadhaar Enabled Payment System.
Comparing India’s 12% component of currency in GDP to the 4% of the developed countries, he said, “Hum note hi chhaap rahe hain” (we are just printing notes), giving it the reason behind making India digital. The mission of VISAKA is to convert 500 cities which account for 60% cash transactions in the country into digital mode.”
The minister also congratulated the public for its healthy response and fast adaptation of the technology.