Is it possible to imagine a world without pockets? Perhaps not right now! However, if achievable in near future, it surely would be no lesser than a huge daunting task. This infact is visible from the decision of banning Rs 500 and Rs 1000 currency notes by Narendra Modi government. While the move not only to bring transparency into the banking system in India but also a step towards cashless transactions, it at the same time has lacked effective implementation.
The strategy behind the decision has been well thought yet the complications resulting out of it have left the decision makers puzzled.
The various verticals of bioscience sector including healthcare, biotechnology and agriculture too have felt the effect of demonetization. While the transactions at hospitals were exempted from it for few days, eventually they too had to face the crunch. The digital payments are
The strategy behind the decision has been well thought yet the complications resulting out of it have left the decision makers puzzled.
being encouraged in a big way at the hospitals. Similarly, the biotech and agriculture industries have experienced the increased cashless transactions in one way or the other.
Drug regulator goes digital
In its circular signed by the Drug Controller General of India, Dr G N Singh on December 13, 2016, the Central Drugs Standard
Control Organization( CDSCO) wrote to all state drug controllers asking for progress on steps taken towards cashless transactions.
The government of India has taken series of steps as part of its Digital India initiative. In pursuance of this, the Ministry of Health and Family Welfare has been making efforts to leverage Information and Communication Technology for improving efficiency and effectiveness of the healthcare delivery in the country. One of the activities initiated for the purpose is to move to a cashless economy by adopting various methods of digital payment. On the regulatory side, CDSCO has already moved towards receipt of payments of licensing and processing fees etc. exclusively through digital noncash means.
The letter addressed to state drug regulators further mentioned,“ In the healthcare sector, we are currently taking steps to introduce cashless transactions.
BIOVOICENEWS. COM 19