Friday 2 January 2015

PM Says Cashless Transaction Can Deal Black Money

Prime Minister Narendra Modi said cashless transactions are the only way to deal with black money problems.

Speaking at an event organized by the ICICI Bank, Modi said banks should compete on promoting cashless transactions as this will address issues related to black money,”
Modi also urged the banks to look at creating financing schemes to encourage entrepreneurs in the area of cleanliness.

“The banking sector should look at a new area of creating 1 lakh swachchtha entrepreneurs. There is immense scope in solid waste management and waste water treatment,” Modi said.

He said rural development is the need of the hour and villages are not ready to wait any longer.

The Prime Minister said the banking sector can drive a huge change in the Indian economy. “People in India save gold because of safety and security. If banks can take up social transformation, people will rely on banks for security instead of gold,” he said.



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