New Delhi, 21st Dec, 2016:Salient points of my speech during “National Conference on Cashless India- Challenges & Benefits” at India Islamic Cultural Centre in New Delhi:

 Union Minister of State for Minority Affairs (Independent Charge) & Parliamentary Affairs Shri Mukhtar Abbas Naqvi today said here that the digital payment, online and mobile banking system will also be successful just like electronic voting system has been 100 per cent successful in India.

Addressing “National Conference on Cashless India- Challenges & Benefits” at India Islamic Cultural Centre here, Shri Naqvi said that digital payment, net and mobile banking is an effective campaign started by Prime Minister Shri Narendra Modi against corruption and black money.

Shri Naqvi said that “less cash economy” based on digital transaction system, will make daily life of the common man easier. Muslims, poor people, weaker sections will be benefitted from this system. Muslims and other sections of the society should join and strengthen this campaign.

Shri Naqvi said that India is the largest democracy of the world. 100 per cent electronic voting system has been successful in our country. Similarly, digital transaction, online and mobile banking will be successful. Some people had raised questions when voting through electronic voting machines started. But the electronic voting system has been a great success as it ensured transparency in elections besides helping the common man a lot. Similarly, the campaign of digital transaction will succeed.

Shri Naqvi said that the Congress and its allies are opposing the historic decision of demonetisation only due to political reasons. But this decision is purely in the interest of the common man.

Shri Naqvi said that digital transaction campaign is aimed at establishing an economic system which is based on less cash and maximum digital payment. Shri Naqvi appealed to the people, “Na Nakad Naa Udhar, Karen Digital Len Den Aur Karobar” (No cash no credit, let’s do digital transaction and business).

Shri Naqvi said that the taxation system faced a lot of problem due to corruption and black money. But after digital transaction system, taxation system will be strengthened and more and more people will be brought under income tax system. Cashless system will also help farmers, small traders of the country.

Shri Naqvi said that the digital payment system will tackle corruption as corrupt practices take place in cash.

Shri Naqvi said that those smaller places where banking system is not available, e-payment, mobile banking can be helpful there, benefits of the welfare schemes can be provided directly to account of the people. Shri Naqvi appealed to the Muslim and other sections to join this campaign and help in eradicating the “cancer of corruption”. Shri Naqvi said that Ministry of Minority Affairs is promoting digital payment, online transactions. The Ministry has given scholarships worth Rs 6715 crore to 3 crore students into their bank accounts directly.

Shri Naqvi said that several nations have become cashless economy such as Sweden, Belgium, France, Canada, Britain and Australia. Even, country like Kenya is moving forward on the way of becoming cashless economy. Shri Naqvi said that cashless economic system, e-payment, online transaction can be implemented in India also easily.

There are about 103 crore mobile phones, 35 crore smartphones, 50 crore internet users, 144 crore bank accounts, 25 crore Jan Dhan accounts, 107 crore people have Adhar cards and there are more than 14 lakh Point of Sale (PoS) machines and there are about 73 crore credit/debit cards are in use.

Shri Naqvi said that small shopkeepers, traders will be able to compete with big companies by adopting digital payment system. Digital, cashless economy will also reduce burden on the banking system. Cashless economy will also help to control crimes.

On the occasion, officials from Niti Ayog gave a presentation on digital transaction system. They also informed the people about net and mobile banking and various mobile apps regarding digital transactions.