BioVoice News December 2016-January 2017 Issue 8 Volume 1 - Page 21

medical devices is offering loans to the consumer . Patients can get a device by paying 15 percent of the cost . They can pay the rest through EMIs that start from ₹ 1,000 per month .

“ The duration of loans varies from six months to three years . Moreover , the loan is disbursed within two to three days of getting sanctioned ,” the Medtronic spokesperson was quoted in reports .
Govt takes steps to ensure cashless transactions in agriculture
Post demonetization , all the Chief Secretaries of the States and Commissioners of Agriculture were directed by the government to ensure that the farmers do not face any kind of difficulty in getting fertilizers . They were directed to ensure that all the Cooperative Societies , Private Wholesalers of fertilizers provide fertilizers to farmers through all modes of payments like on Credit as well as through Credit Card , Debit Card , Cheque etc .
The Minister of Chemicals and Fertilizers , Mr Ananth Kumar recently informed that strict instructions were given to all the fertilizer manufacturers and importers of fertilizers that it would be their primary responsibility to ensure that farmers do not face any problem under any condition in getting fertilizers and for this they have to ensure that all modes of payments are accepted by all concerned dealers , wholesalers or retailers . He further informed that Fertilizers
Companies have been directed to see that in case any kind of problem is noticed anywhere in the country due to nonavailability of cash or banking services , farmers should be provided fertilizers on credit basis and for that all necessary arrangements be made by them .
Government has taken several decisions to aid the farmers in the current Rabi season to facilitate farming activities and to support rural economy . NABARD has made available Rs 21,000 crores limit to the District Central Cooperative Banks ( DCCBs ) through State Cooperative Banks for Rabi agricultural operations which benefit more than 40 percent of the small and marginal farmers . Several measures like higher cash drawl limits for farmers and registered traders in APMC markets / mandis , extension of time limit for payment of crop insurance premium , purchase of seeds with old high denomination bank notes of Rs 500 from Government Centres , have been announced by Government for the benefit of the farmers .
Further , as a relief to small borrowers ( i . e ., loans upto Rs 1 crore ), RBI has decided to provide additional 60 days ’ time for repayment of dues . This will be applicable to personal and crop loans including housing and agricultural

The cash crunch resulted in introduction of new innovative ways of delivering healthcare . Leading drug and medical device makers found unique ways to sell the products to customers

loans , taken from banks . Way forward
The demonetization reflects government ’ s willpower to change the status quo . Despite doubts and difficulties , the move has raised hopes of drastic steps in future too to correct the system .
The ease of transactions is the major factor behind the transition but equally important is the transparency that comes as an icing on the cake . The cashless economy will only hasten the progress of an advanced technology manufacturing industry like that of bioscience . However , the implementation of demonetization has to be streamlined with immediate effect . With even government agencies promoting the digital transformation , it shouldn ’ t be an issue for companies to step up efforts towards achieving the same .