Cashless Means Less Cash, Not No Cash: Arun Jaitley

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New Delhi: Speaking at the Jan-Dhan Mela in Delhi, organised to promote digital transactions , Jaitley said that “Common people have understood the gains of cashless or digital economy , but opposition is taking more time to understand.”

“From counterfeit currency to terrorism, everything is a result of heavy dependence on cash economy,” he said, highlighting the benefits of digital payments.

Stressing importance of newly-introduced Aadhaar-based payment system, finance minister said the payment system is for people who don’t have cards or mobile phones, they only need thumb print for transactions.

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“Our bid to go cashless means less cash, not no cash. Now, the money has come into the banking system and the anonymity of cash has vanished,” Jaitley said.
The finance minister also claimed that the lucky-draw scheme will go a long way in promoting digital transactions in the country.

“Such schemes were very popular and successful in South Korea. I can assure with such initiatives we will have a better nation, a better and cleaner economy in future,” Jaitley said.