Demonetisation is a bold step by the government: CMAI

Aamir H Kaki 

CMAI, one of the largest ICT associations in India, feels that demonetisation is a bold step taken by the government and has brought about a radical change in the society. 

“We feel that demonetisation though a bold step taken by the government has brought radical change in the society by curbing black money, fake currency and illegal usage of currency for terrorist activities,” said S.D. Saxena, Vice Chairman, of CMAI, while addressing a press conference in New Delhi on Thursday. 

On the hardships faced by the common people due to cash crunch, Saxena said, “The sudden change has brought about many hardships to common people, landless labourers in the unorganised sectors of the economy. Many workers and daily workers are finding it difficult to manage their day to day living for want of cash and currency. However, we feel this is temporary and will be over soon,” he added. 

Saxena feels that these problems are temporary and we have to find solutions, while adding, “The solution to the problem is in your hand, that is, the mobile can become your bank. It can become your instrument for purchase and sell. But we have to teach people how to do cashless transactions and use technology,” he added. 

He mentioned that India is witnessing major changes and ICT is one of the instruments which has brought about some major changes in the country. And mobile phones have changed the life of the people. 

As an association, Saxena said, “Our main purpose is to encourage people to move to cashless transactions and use technology to the maximum. Because e-transactions are safe and there are very little chances of fraud.” 

When questioned about cyber security laws in the country, Saxena said, “We already have cyber laws in the country. Presently the cyber laws in the country have been made strong. Recently the parliament has passed a bill on cyber laws.” So legislatively cyber laws have got the approval of the state. 

Prof N.K. Goyal, President of CMAI also addressed the journalists and said, “We are fully supporting the move by the government for demonetisation. We think it is a right step in the interest of the country as well as the economy. 

“We are quite hopeful that along with this we are also entering the area of a cashless economy which is the need of the time and in due course, things are going to change the country as a whole,” he added. 

Prof Goyal also recommended some steps to support the endeavour of the government in turning it into a cashless society. 

“CMAI recommends that some specialised courses be immediately started to educate the people regarding digital payments,” he said. As an association, we are very soon launching online courses on digital payments, he informed.