New law made in America troubled by notebook, fines of one and a half million rupees for refusing to accept cash - HailNewsUp.com provides latest news from India and the world.

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Monday, April 1, 2019

New law made in America troubled by notebook, fines of one and a half million rupees for refusing to accept cash

New law made in America troubled by notebook, fines of one and a half million rupees for refusing to accept cash

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At a time when digital transactions are being promoted to eliminate cash transactions, this trend has been strongly opposed in the Philadelphia city of America. Not only this, the administration has made the law about this in view of the feelings of people. After that the shopkeepers will no longer be able to refuse to accept cash. If someone refuses to accept cash, then legal action will be taken against them. There is also a provision in the law that shops can be closed till the refusal of cash transactions.

City Mayor Jim Kenny of Philadelphia, signed a cashless business bill on Thursday. According to this, the traders will have to take cash along with digital transactions as well. This law will be applicable from July 1. A trader who refuses to accept cash, he can be fined $ 2000 or about 1.5 lakh rupees.

Laws such as New York and Washington

In New York, Washington and New Jersey, there have been many cases of denial of cash, after which the administration has already prepared a law like Philadelphia to ban the cash-free option.

Shopkeepers' plea

Most of the miscreants in Philadelphia, America's sixth largest city, refused to accept cash transactions. Many shopkeepers had put the plank outside the shop - 'Cash is not accepted at the shop.' Shopkeepers say that cash transactions remain a threat to theft and corruption is encouraged.

'How is this justice?'

Bill Greenley, Counselor of the City of Philadelphia, says that the new law is absolutely the same that I go cashless to drink a cup of coffee in City Hall and I get coffee while the other person behind me, who runs the cash, Coffee can not be found. What kind of justice would this be?

US 5th in Digital Transactions and India at number 28

The Economist Intelligence Unit recently conducted a survey involving digital transactions in 74 countries. Canada is at number one position, while the world's fifth largest economy is in the world. Sweden is second, Britain is third and France is fourth.

India is the world's fifth largest economy and is ranked 28th in the case of digital transactions.

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