Catastrophe of bank interest rates – 19

Continues from the previous post -

In our country, in affluent societies, people are using these facilities since long; it is not a new thing. Prior to facility of on line people were using a cheque book and were paying by cheque. For sizable sums, it is most convenient to pay for purchases. However, Modi wants this method to be used for all types of transaction. That is foolish. Because every time you use it you pay commission to bank and that way, your purchase becomes that much more costly. Poor Indian cannot accept that. Therefore, we see there is growing resistance to this. Here we ask government why government insists that we do not withdraw cash from our accounts. It is my money I should be able to withdraw it as and when I want. Government has no reply to this. Existing law does not allow government to make people forcibly accept cashless transaction. Cashless method leave large sum of money with banks. This makes it like a fix deposit and by that, the bank can give large loans to the owner of that bank. Banks owned by government also benefit by this. This could be one possible reason after this insistence for cashless. This may be one reason why our government has put limit to withdrawals.

The hidden reason for not allowing people to have cash in their hands is horrible. Cash in my hand is my freedom. Modi government wants to curb your freedom. If you are free, you are likely to oppose his government and its nefarious undemocratic activities. He has power to curb your accounts and stop you from opposing his government when all your money is in banks. He can order to stop your account and by that kill your all movements. Our government has done it with one international NGO who had asked questions to it on certain deals in mining rights. Nevertheless, some cashless deals are taking place such as those with cheque. For large amounts, cheque has been the way since long. Modern technology has offered more facilities such as debit card, credit card etc. in spite of them right to keep his money of any value cannot be banned by any government if it poses as a democratic government. Modi administration has no acceptable reply to justify their demand that people will not have their money in their hand. All efforts to control value that a citizen may want to keep in his possession are indication that this government wants to curb freedom of Indian people. Unless RBI guarantees payment of all funds, incase of bank closer, this government has no right to curb our desire to hold our money to ourselves. Let Modi government bring in this provision and then if it says that citizens need not keep their money to themselves may be appreciated.

Continues in the next post –

You may contact me on my Email ID given below,

ashokkothare@gmail.com

You are invited to visit my other blogs

Ashok Kothare, http://ashokkotharesblog.blogspot.com/ for stories

I reckon, http://kotharesviews.blogspot.com/ for philosophy

You may visit blog, Ideas and tips on any subject, http://kotharay.blogspot.in/ for intelligent discussions.

My Marathi Blog, http://kothare-marathi.blogspot.in/ मला असे वाटते