BioVoice News December 2016-January 2017 Issue 8 Volume 1 - Page 19

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