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Day 23- Ques Ans

What do you understand by digital banking? How it can help in checking the flow of black money in the economy? Explain.

Digital banking is solution when today when costumers demand is rising, fierce competition is truth for banking sector, transaction has been increased multiples times, data security has become real challenge, and here digital banking is better alternative.  Digital banking is all about facilitating maximum banking services online to customers with minimum interference of regular branches. It includes trading, transaction, tracking financial status, payment and receives, low rate of returns, easy to use and so on. Online platform plays the key role here to bring bankers and customers together.

Apart from regular benefits digital banking can help for checking the flow of black money many ways as

  1. It is easy to track financial transactions for government than physical cash
  2. Individual customer total transaction is transparent and available for tax evaluation.
  3. Huge chunk of black money is because traders do not disclose the total trade as do not generate transaction bills. Digital banking enforces the bill as payment is online to track by system.
  4. Reduce pressure on government to print huge amount of physical cash and so check in fake currency circulation also.
  5. Huge amount of payment to foreign as money tripling and money laundering will be checked
  6. Welfare services from government to public will be through online transaction so reduce ghost users; it also helps to reduce black money.

These are the reasons that government is enforcing more and more on cashless economy. Initiatives like Jan Dhan account, sharing new debit cards under NPCL, starting direct benefit transfer in social welfare schemes, making mandatory use of pan card for gold purchasing and so on all are right steps in that direction.

It took more than 30 years to clean the Rhine river. The state of pollution in the Ganges is even more alarming. In a scenario like this, how far can the Ganga rejuvenation plan go in bringing back the river to it’s normal flow and purity? Discuss.

Rhine is one common river flow in Europe across the countries. It is one of the cleanest rivers in the world in spite the fact that it flows through most developed nations.  With comparison to that Ganga supports much more population, has much more commercial, environmental, and spiritual relevance.  To clean India in last three decades India has taken many initiatives as
Ganga Action Plan (1985) in two phases. Not much success.
Setting up of National Ganga River Basin Authority in 2005 as coordinating authority.
Most recent Namami  Ganga Program as a comprehensive approach with 20000 crore central funding.

In spite of that pollution level of Ganga is increasing every day because

  • Industrial setup across the basin
  • Huge population pressure across the river from origin till submergence in sea
  • Intensive agriculture practice on river bad
  • Exhaust water resources for irrigation, electricity, agriculture, and other purposes.
  • Infrastructure projects on river and on tributaries.

In spite of all challenges there is still scientific ways to clean gang if people and government have the will as it has been done with Rhine in Europe and with Thames in England. Following steps will serve the purpose

  • People participation is the key
  • Cooperative federalism as all states need to come on same platform with one action plan
  • Involve local governance institutions like Panchayats and municipalities in clean Ganga mission
  • Strong steps for industries regarding pollution control and use of technology for cleaning.
  • Help form other nations and their expertise on cleaning water.
  • Control the infrastructure projects and allow natural river flow
  • Involve neighbor countries Nepal and Bangladesh for maiming water flow through maintain water in tributaries. .

Dynastic politics doesn’t only discourages talent but is also inimical to the political economy of the country. Do you agree? Critically examine.

Dynastic politics was always part of Indian political system since ancient period. Earlier it was in the form of monarch practiced in later Vedic phase. Muslim kingdoms also had this practice as Mugal dynasty followed it after 15th century. In recent politics when democracy is the champion in India still dynastic politics is prominent in India as major political parties in India are blamed for dynastic politics.

Dynastic politics brings lot of harm in democracy like India as

  • It prefers family or close relation over talent which is against democratic principles.
  • Monopoly practices in politics lead by it so ideas cannot flow independently.
  • It makes big hollow on leadership as do not provide many choices for leadership
  • Many corrupt political practices, nepotism, and favoritism get promoted by it.
  • Pseudo dictatorship get promoted by it within political system
  • People have little choice for leadership and it leads distrust among citizens and ultimately democracy is the biggest loser.

However it dynastic brings positivity also in politics as

  • A nurtured leadership get its place
  • It put lot of social and moral pressure on leader in terms of expectation which can be great motivator for any emerging leader.
  • Political party cadre gets intact with one leadership and ideology so reduces the political instability.

Dynastic politics has both pros and cons and at global level have seen both. If it is nurtured will than it will serve the great purpose as in case of Bhutan we have seen in recent time but if it gets diluted it can be a cause for nation fall as in Middle East countries. Indian political parties and citizens need to conscious about it.


About Yogesh

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