STEPS:
- (Almost Done): Understanding Requirements and Developing Secure System.
- (Partially Done): Educating People (End Users) with the help of BBC Team.
- Implementation.
Remarks:
- Process is already initiated.
- You (Government) Just Announce: “From 15/08/2019, All transactions will be digital. Be ready. Be part of the Revolution”. You (Government) take care of Secure System Implementation and BBC Team will take care of awareness and education among people.
- More than 99% of transactions should be Digital. Available Options: UPI/ CARD/ NEFT/ RTGS/ eWALLETS/ Net-Mobile-SMS Banking/ Biometric Based Machines etc.
- Maximum Currency Paper/Coin: ₹:1, ₹:2, ₹:5, ₹:10, ₹:20, ₹:50.
- No ATMs.
- Each individual can keep ₹: 10K with him/her at the max. With time this limit will come down and should be kept as low as possible.
- Multiple levels of securities for high amount transactions.
- Daily Needs, Small Businesses: Biometric Based Machines
- In national portal all bank accounts will be linked. Using biometric machines anyone can make transactions easily. No need to login to portal every time.
- In villages many people are doing various businesses. Most of the businesses are very small and unregistered, some of them are seasonal and some are very irregular. eg. Selling vegetables in weekly Bazar, selling milk to neighbors, doing embroidery works etc etc. For such people, for time being they can use the hard cash system. The limit is Rs. 10K for each individual. On weekly/monthly basis they can deposit in their bank accounts. With time they will be given trainings by volunteers of BBC Team on handling biometric machines and digital payments.
Challenges:
- Strong System Implementation
- Awareness and Education
*Government will take care of Strong System Implementation.
*Bosom Buddy Crew Team members along with their volunteers will take care of awareness and education among our brothers and sisters of India.