Goa best place to start with cashless economy: Parrikar

Last Updated: Tue, Nov 29, 2016 16:20 hrs
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Hailing Prime Minister Narendra Modi, Defence Minister Manohar Parrikar this Sunday said that Goa is probably the state best placed to go cashless.

"As per prime minister's call for a cashless economy, I think Goa is a place where the cashless economy can be implemented effectively. By end of December, we plan to boost the cashless component in Goa five to ten times. This can serve as a typical model for other states," Parrikar said.

Parrikar said the process is in full swing and action plans have been finalised and will be implemented soon.

"More than 80 per cent of countries in the world run on cashless transactions. In Goa at present, 20 per cent transaction are cashless. We will raise it to 60 per cent," he added.

In a renewed push for making India a cashless economy, Prime Minister Modi in his Mann Ki Baat programme said, "Scrapping these notes has opened other avenues to make payments. Download apps of banks and e-payment options. Shopkeepers can keep card swiping facilities and everyone can ensure they pay safe using their credit and debit cards."

The Prime Minister asked traders and small shop owners to provide alternative payment methods such as using POS machines, e-payment wallets and other such "friendly technologies" to their patrons.

Modi said that by adopting such technology, even small traders can immensely increase their profits.

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