Cashless economy will help in establishing transparent system: Naqvi

Union Minister Mukhtar Abbas Naqvi on Monday said that the central government's campaign for cashless economy, involving digital transactions, net and mobile banking, is an "effective mission to establish clean, honest and transparent system".

Addressing a 'Cashless Chaupal' organised by his Minority Affairs Ministry at Dalpatpur in Uttar Pradesh's Moradabad city, hei informed people about benefits of digital transactions, online and mobile banking.

"India being the largest democracy of the world, where 100 per cent electronic voting system has been successful, the same way digital transactions, online and mobile banking will be successful," an official release here quoted him as saying.

"As the electronic voting system has been a great success as it ensured transparency in elections, likewise the campaign of digital transaction will succeed," he added.

The minister said that digital transactions will strengthen the country's taxation system as more and more people will be brought under the income tax system.

"Cashless system will also help farmers, small traders of the country," he added.

Naqvi also appealed to the Muslims and other sections of the society to join the government's campaign and help in eradicating the "cancer of corruption".

He said that small shopkeepers, traders will be able to compete with big companies by adopting digital payment system, while the cashless economy will also reduce burden on the banking system.

--IANS

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