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Chain of demonetizing let not end in just banks benefits


Dear Prime Minister wipe out charges on swipe machines





Government is taking some steps on controlling and channelizing money transactions. Now it reveals that demonetizing efforts is first step, cashless transactions appear second.





 

Government is pushing banks to install 10 M swipe machines. I believe this is first phase. Small traders also will have to use such machines…  Looking at our living style we buy essentials in two steps. First mostly on monthly basis, and second on daily basis. Whatever I buy the merchant is charging me 2 to 3 percentage as process charge.  





This is applied by banks to trader and trader charges it on us. This way neither trader nor common man is getting benefits but banks mainly SBI, HDFC and ICICI are the gross beneficiaries. Simple calculus…. normally millions a day!






My dear Prime Minister please remove rent, charges for swipe machines on traders applied by banks. So common man won’t be paying indirect tax…
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