Tag: Cashless A Possibility

NOVANEWS By Sudhirendar Sharma Counter Current   Cash has undoubtedly proven a curse, irrespective of its color, for those who have been queuing up at the bank counters following the currency demonetisation. The unprecedented cash crunch has made many wonder if going cashless is the better way forward? It may indeed be but despite the proliferation of alternate payment mechanisms – plastic currency and electronic cash transfer – unprecedented amount of paper currency is floating around worldwide. Most people like cash, holding Dostoyevsky’s The House of the Dead expression ‘Money is coined liberty.’ If going paperless is the best option, developed economies would have phased out paper currency several years ago. Instead, citizens in developed countries hold more currency per...