Thursday, January 24, 2008

Cash Ban

Here is what came to my mind while thinking recently about the corruption in Kashmir. This might be applicable to lots of places but since we are kashmir bloggers so we will talk about Kashmir.
So here are my two cents. We should completely ban money in the market. Purchasing anything with cash should be made illegal. Instead all our money should stay in the bank. We may not even need to print currency bills.What we should have instead is electronic cards. All the payments made only using these cards. Each person would have his/her money's equivalent in the bank and they would be able to use only as much as is in their banks, using these electronic cards.
This technology will possibly make sure that I can't pay money to anyone unless the person accepting the money has a machine and an account to accept it. All the business owners and the government will have that facility. For those business owners who are very poor I guess we could help them in purchasing the equipment. There will be some initial costs involved but in the long run we will have a much less corrupt state. We will also save money in printing the bills.

3 comments:

Suhail Rashid Bhat said...

agar pawar gov.. misheen pakyaa cellye pyeth? wozum kyethepaethye hyemav.. te mahraazas kyah maal trawaw? obviously there are many many other unaddressed issues, but i have just listed the more serious ones above!

Nayeem said...

To answer your first question, I will have to say the infra structure needs to be better. Electricity is a must in most situations. There will be ways for battery operated machines but continuous power supply is a must for more than one reason.
Loans can borrowed through banks through a proper paper work. Infact that is a also a muslim way. Whenever you loan out money to anyone, document it in the presence of witnesses.

I don't have an answer for the third one. It is tough. May be it will be an exception. :)

Anonymous said...

Not an issue, we can have mini-cards {pre-paid top up types} and make a garland out of it.