Abolishing currency notes and bills could significantly reduce corruption by eliminating a primary means for illicit transactions. Physical cash is hard to trace, making it ideal for bribery and tax evasion. Moving to a fully digital currency system would ensure all transactions leave a digital record, increasing transparency and accountability. This change would deter corrupt practices and aid regulatory bodies in monitoring financial activities. While challenges like ensuring digital inclusivity and strong cybersecurity exist, the potential to curb corruption is considerable.
Abolishing currency notes and bills could play a crucial role in reducing crime by eliminating a key tool used in illegal activities. Physical cash is untraceable and anonymous, making it the preferred medium for various crimes such as drug trafficking, money laundering, and extortion. By transitioning to a fully digital currency system, every transaction would be recorded and traceable, thus making it much harder for criminals to operate undetected. Digital currencies can incorporate advanced security features and compliance protocols, enhancing the ability to monitor and prevent illegal activities. Although challenges such as ensuring widespread access to digital financial systems and maintaining robust cybersecurity measures exist, the potential impact on reducing crime rates is significant.
Officials said that the MoHFW Under Secretary, identified as Sonu Kumar, had been approached for a Statement of Need by the complainant’s friend’s son, who is a doctor and a resident of the US.
Officials said that the MoHFW Under Secretary, identified as Sonu Kumar, had been approached for a Statement of Need by the complainant’s friend’s son, who is a doctor and a resident of the US.
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