Demonetisation: Govt working on 'disincentives' for cash transactions: Prasad

Moneycontrol BureauTo discourage cash transactions, the government may come out with some ‘disincentives’, Law and IT Minister Ravi Shankar Prasad told The Economic Times in an interview. Since implementation of demonetisation on November 9, the government has come out with various incentives to encourage cashless transactions. Despite the cash crunch pain, people are supporting it because they have trust in the Modi-led government, Prasad said.He further said that the government is in constant touch with different ministries like food and civil to make ration shops Aadhaar-enabled. Aadhaar is expected to become a game-changer in the way transactions happen in India even those who do not own a smartphone. The entire structure for the system is underway, he said.

On the issue of cyber security, Prasad said that constant drills are been connected to check the system. Also, the government is looking at new technologies to strengthen the system.