Cheques to be eliminated under 'Digital India' move - good or bad?
@thebigk
•
Oct 26, 2024
Oct 26, 2024
1.6K
This seems to be a speculation at the time of writing this debate post; but Indian Government may soon eliminate transactions through Cheques. This is going to be quite a bold move right after demonetization initiative by the Government of India.
The question to consider is - are Indians ready to get rid of cheques? In my family, we seldom use cheques and insist payments through net-banking, credit or debit cards. High-value transactions are typically done through Credit or Debit card and sometimes through net-banking. But then, there are several occassions when the party we're dealing with requests for a cheque.
I think digital benefits everyone and banning the cheques would be a welcome move. I'd support it because I never got the logic in asking users for 'canceled cheques: <a href="https://www.crazyengineers.com/threads/do-i-need-to-sign-a-cancelled-cheque.79499">Do I need to sign a cancelled cheque?</a> '
Digital India initiative seems to be on the fast track. Are you ready to go chequeless?
The question to consider is - are Indians ready to get rid of cheques? In my family, we seldom use cheques and insist payments through net-banking, credit or debit cards. High-value transactions are typically done through Credit or Debit card and sometimes through net-banking. But then, there are several occassions when the party we're dealing with requests for a cheque.
I think digital benefits everyone and banning the cheques would be a welcome move. I'd support it because I never got the logic in asking users for 'canceled cheques: <a href="https://www.crazyengineers.com/threads/do-i-need-to-sign-a-cancelled-cheque.79499">Do I need to sign a cancelled cheque?</a> '
Digital India initiative seems to be on the fast track. Are you ready to go chequeless?