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But what happens when there is a major disaster? How will people pay if there is no internet/electricity etc.? At least with cash you can plan ahead...also wh
by jaypaulynice 10y ago
But what happens when there is a major disaster? How will people pay if there is no internet/electricity etc.? At least with cash you can plan ahead...also what are the poor people to do?
- photonwins 10y agoPeople can still use lower denomination notes you know.
- swatkat 10y agoI guess the linked Bloomberg article doesn't make it clear? Cash hasn't been banned in India. Only ₹500 and ₹1000 denomination currency notes have been scrapped. Replacement currency notes (₹₹500 and ₹2000) with new design are being disbursed at banks and ATMs. It would take few more days to stabilize, that's all.
- jaypaulynice 10y agoThanks! I was responding to the comment by saying that banning all cash wouldn't be necessarily good...but yeah the article does make it sound like all cash would be banned...