The BJP Government at the centre is all set to integrate some banking services also. The idea is to reduce trading with currency and encourage plastic money. In that process the government is trying to bring in a single card by which the people can operate in 21 banks which is a novel feature. Operating in 21 banks with a single swipe card is a good feature.
The jamana of pass books and other features will end to a great extent and the customers will just use one card and operate money and payments. This will bring in larger transparency in the money transactions.
Supporting this Union Minister M. Venkaiah Naidu said the Centre will soon introduce a common card with which users can access services of 21 banks. “We are working on the guidelines,” Mr Naidu said. No name has been chosen for the card. Mr Naidu was speaking after participating in a range of programmes in Visakhapatnam.
Referring to former Prime Minister Manmohan Singh’s scathing attack on the government in Parliament two days ago, Mr Naidu said, “The Indian economy saw its worst days when Dr Singh was Prime Minister. An array of scams came to light at that time. Prime Minister Narendra Modi, being the modern Sushruta, has initiated chemotherapy for the black money cancer. Dr Singh giving suggestions on demonetisation is nothing short of a joke.”
At Tadepalligudem, he said demonetisation would bring down prices.
