Credit-based Transaction System (CTS) 🏧💰 

 Demonetization effects are still on the heights even after these 30 days. 📅 Lines outside the ATMs appears to be constant.🚻🚻🚻 🏧 

 There’s no cash in ATM machines.

Banks are going out of cash. 💸 

 What’s next? 😒

 I’m not in against the step. I support it.🚹 

 Government say - “Use plastic money.” 💳📲 

 But we can’t deny the fact that entire population of our country is neither capable to handle cards, internet banking, mobile wallet technologies, nor everybody having a smartphone either. 😓

So what can be done? 😥 

 I here want to explain a new method of currency system which I think might be very user friendly and effective. 😃 

Let’s call this system - Credit-based Transaction System (CTS). 🎰📟 

 💡 But how would it work?

 Let me explain - 😉 

 Most of the population have Adhar cards liked to their bank accounts.📃💰 

 So they just need to do the following steps. 

 #1. Fill a form. ( Available online and offline both) 📝/💻 

 - Mention your name, adhar card number, bank account number, mobile number, money to credit conversion amount.

 - ₹1 = 1 credit point. 💰 

 #2. Receiving of credits.🔖

 -The bank will grant the required credits to the account holder on their adhar card number. 

 #3. Usage of credits. 📈 

 - Customers can use their adhar card number on every purchase to pay the bill. 📟 

 - The shopowner should collect the software from the bank which will generate the bill.🎫 

 🔍 How the Software works?

 - The shopowner will enter the adhar card number of the customer in the software. 

 - Then the customer will receive a OTP(one time password) message on their mobile, which they have to tell at the billing counter. 

 - Then after the approval of OTP, the credit profile of the customer will open in that software and then allow the shop owner to scan or enter the MRP(s) of the purchased items. 

 - Then, appropriate bill including all the taxes, transaction details, credits left, etc. will be generated. 

 📍 Benefits of using CTS 

 - User friendly system.

 - Income tax department will have all the records of each and every purchase by anyone using CTS. 

 - Currency transactions would be more transparent, tension free and digital. 

 - High security. 

 - Use of paper money would be reduced. 

 But still. It is just an idea. I need public as well as government support to make this a reality. 

 Please comment your views on this method. So that I can fix problems, if I missed any. Or if you support this idea, please share this post. 😃 😘