MNNIT conducts workshop on demonetisation

ALLAHABAD: A workshop on demonetisation: impact on Indian economy, was held at School of Management Studies, MNNIT (Motilal Nehru National Institute of Technology), on Wednesday.
According to head of the department, Dr Tanuj Nandan, demonetisation shall bring in unaccounted money back into the banking system, which can be used for recapitalization of banks and other constructive purposes by the government. He appreciated the payment systems built by NPCI which shall ensure convenience to people in digital transactions.He added a word of caution towards securitizing digital transactions.
Prof Yogesh K Dwivedi, from Swansea University, UK focused on the significance of robust digital infrastructure for transiting towards a cashless economy. He insisted on creating awareness and providing training to citizens of India for digital transactions. He appreciated the efforts of the government for developing different payment modes for different segments of citizens.
Prof Geetika, clarified the meaning of the word demonetisation. She termed demonetisation in India as shock therapy, which was necessary for our dormant economy. She highlighted the fact that since ages Indians have been treating cash in hand as a security, the biggest challenge in the process of making Indian economy cashless is to change the mindset and banking habits of the citizens. She opined that demonetisation is a constructive and positive step towards making India as a developed economy in future.
A video on awareness on demonetisation, prepared by GP Sahu and his team from MNNIT, and Prof Yogesh K Dwivedi, UK was launched by Prof Geetika, during the workshop, followed by a brief description on the video by the team members.