Collector calls upon youth to make cashless transactions

Visakhapatnam: Collector Praveen Kumar called upon the youth to make the cashless transactions a success, which should necessarily be observed by all to overcome the present problem of change, following demonetisation of high denomination notes.

Addressing the students of various colleges at a meeting here on Thursday, Praveen Kumar informed that in developed countries like Singapore, 70 per cent of transactions are cashless whereas it was only two per cent in India. Stating that transactions using heavy cash are not safe and secured, he said and added that the cashless transactions are safe. He asked the students to obtain more knowledge about internet banking, mobile apps, e-PoS machines. Similarly, cashless transactions can be done using smart phones after downloading mobile apps.

The students asked to remit college fee through net banking and e-PoS machines and four students from each college will be given necessary training in doing cashless transactions who in turn educate all six lakh college students in the district.

Andhra University Vice-Chancellor Prof G Nageswara Rao termed the demonetisation of higher notes as a historic step and it was necessary to switch over to cashless transactions. Registrar Prof V Umamaheswara Rao, Prof Valli Kumari, DRDA Project director Satyasai Srinivas, DEO M V Krishna Reddy and others were also present.