Narendra Modi calls for making India a cashless society in 'Mann Ki Baat'

NEW DELHI: Prime Minister Narendra Modi in his ' Mann Ki Baat' address on Sunday said India should move towards becoming a ‘cashless society’ using the JAM mechanism and electronic payments as this was crucial to curb black money in the country. “I urge my fellow citizens to begin using the electronic modes of cashless transaction and illegal businesses will close down...transparency will come and black money will disappear. Through electronic means and usage of technology, we can both pay and receive money. There was a time when transactions happened through barter system. Then notes and coins came. Now, the world is moving towards a cashless society,” the Prime Minister said.

He said the same can be achieved through the JAM trinity of Jan Dhan Accounts, Aadhaar and Mobile — which is already being used for direct benefit transfer (DBT) by government. Modi said the RuPay card facility will also get tied up in the same system and these cards could be used in the coming days for both credit and debit card facilities to disincentivise cash transactions.