Big step of CAIT to promote less cash economy in India
Nagpur: The cashless economy vision of Prime Minister Narendra Modi will get a boost tomorrow on the day of Raksha Bandhan when brothers belonging particularly to trading community will be transferring money gifts to their sisters through Mobile application instead of giving cash.
While beginning this unique and innovative initiative, the Confederation of All India Traders has called upon the traders and other people across the Country to make optimum use of mobile applications for giving festival money to their sisters and not in cash. On the one hand such an initiative will make people aware about cashless economy whereas on the other hand it will also inculcate a habit to use electronic payments in day to day working instead of using cash. It is noteworthy that the CAIT is already conducting a less cash national campaign since a long time in assistance with card technology global major MasterCard and lead Bank in the Country, the HDFC Bank.
CAIT National President B C Bhartia and Secretary General Praveen Khandelwal said that since ages on the day of Raksha Bandhan, sisters tie Rakhi to their brothers and pray for their long life and in turn the brothers take pledge for their well being & protection and also give gifts and festival money to their sisters, as a token of their love and affection. This custom is ages old and people belonging to every strata celebrate the festival with lot of fun and festivity spirit.
Both Bhartia and Khandelwal said that by holding such an event on a festival like Raksha Bandhan, the CAIT is attempting to give a louder message for adoption of less cash payment system across the Country. On this day tomorrow traders in different states will give money to their sisters through “Chillr” mobile application of HDFC Bank. Through this mobile application, a person can transfer money instantly to another person who is in contact list of his mobile. Even the money can be transferred immediately to a person who is even stationed in any other city of the Country as well.
The CAIT has called upon trade associations across the Country to motivate their respective members to give money through mobile application rather than cash to their sisters on Rakhi Day and become instrumental in giving a wide spread message all over the Country for the need of less cash economy in India. The CAIT feels that such type of activities will certainly underline the importance of less cash economy and people will be motivated to adopt digital payments more efficiently and quickly and thus bringing transparency in dealings.