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Summary of yojana Magazine February 2017

Theme:

The objective behind the recent government decision to demonetise high denomination currencies was to curb black money, counterfeit notes, corruption and terror financing as well as to create a cashless economy. Cashless transactions have the benefit of creating transparency in the financial system which also helps the government to track payment to terrorist organisations and other anti-national activities.

However, in a country where a large proportion of the population is illiterate and the rural areas have inadequate infrastructure for digital transactions it is not possible to create a totally cashless economy. So, the effort has now been to create a less-cash economy.

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