Cashless transaction essential to stop black money:Modi

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22 May, New Delhi

Prime Minister Narendra Modi has vigorously advocated for ”cashless scheme” in order to bring transparency in business and arrest exchange of black money.

Modi, in his “Mann ki Baat” programme on AIR Sunday said that the government was taking several steps to bring transparency in transactions and business and switch to ”cashless management” from ”cash management”.

Appealing for people’s support, he said once people are accustomed to this ”cashless management”, they wouldn’t feel the need to keep cash in their pockets. Not only the business would be smooth, there would also be greater transparency in it.

He said,”Illegal business would end and impact of black money would dwindle.” Prime minister said there would be bottlenecks initially accepting this order but seeing changing times it is mandatory and more early we adopt this better it would be for us.

Giving example of mobile phones, Modi said, that twenty years ago nobody had ever thought that every person would be having a mobile handset in this country of 125 crore people. But now mobiles have become a necessity of life we cant do without and we hope that ” cashless management” too becomes a dire need of life.