Taking a step towards PM Modi’s cashless society, Goa is all set to go cashless from December 31. While cash transactions are not being banned, the move is to encourage a cashless society. Also, there will be no minimum limit on the cashless transfer of money.
Chief Secretary R K Srivastava explained the possibility like this-
Goa is a small state with 15 lakh population. It has 17 lakh mobile connections and 22 lakh bank accounts. Which means that each person has at least one bank account. Most of the people in Goa use debit or credit cards while purchasing and hence it will not be a problem to go cashless.
One has to dial *99# from their mobile phone, not necessarily a smartphone, and follow the instructions to complete the transaction. This system is being introduced to transfer money to small vendors who do not have swipe machines. Swiping of ATM and credit cards at shops and establishments will also continue.
A drive to create awareness on how to operate the cashless transaction for vendors and small shops and the public will commence on Monday at Mapusa and Panaji, in Goa. Every vendor who registers with the bank would be given an MMID code.
Once a person purchases fish, vegetable etc. the customer just needs to dial the designated number (*99#) and punch in details of her/his account and the amount the customer needs to transfer to the vendor and then the customer has to enter the MI code of the vendor to transfer the funds. Within no time, the money would be transferred from the customer’s account to the vendor’s account.
We hope that other states will soon step up and start creating awareness about cashless transaction among the public.