Narendra Modi asks Nation to Embrace Electronic and Mobile Banking

In his first radio address after demonetisation, Prime Minister Narendra Modi urged small businesses and workers to adopt the cashless transaction through mobile banking and plastic money on Sunday.

“Time has come for everyone, particularly my young friends, to embrace e-banking, mobile banking, and more such technology,” PM Modi said in a tweet before his ‘Mann Ki Baat‘ radio address to the nation.

He also added that “In the way that large malls expand their business through the use of technology, small businesses too can increase turnover by using simple, user-friendly technology.”

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Narendra Modi told that the labour population will now adopt the digital technology which would help to end their exploitation. According to the Modi’s speech, there will be a chance of salary deposited in the bank account which is safe and secure and the minimum wage is assured.

So in the coming days, people can use their mobiles like an e-wallet to make payments for the neighbourhood shops of their need. The Prime Minister has suggested that phone should be used for banking purposes. He said, “My mobile… My bank… My wallet.”

The central government on 8th November 2016 demonetised the old Rs. 500 and Rs. 1000 currency notes to track the black money holders in the country. The surgical move taken to led the cash chaos across the country.

The government has also asked all the statutory 4,041 urban local bodies to shift their payment method to e-payments. Senior officials from various states have attended for the half-day interaction on different aspects of ensuring cashless transactions.

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