Asserting that Telangana is the number one state in cashless transactions, Chief Minister K. Chandrasekhar Rao on Friday said demonetisation will curb black money, terrorism, corruption and fake currency, adding it is good for nation building.
“Telangana is the number one state when it comes to cashless transactions. Siddipet will be completely cashless. Demonetisation will curb black money, terrorism, corruption and fake currency. Good for nation building,” Rao said while speaking on the first day of the Winter Session of Telangana Assembly.
After the successful implementation of cashless payments system in a village in Siddipet district, Rao had earlier said the project would be implemented in the entire Siddipet Assembly constituency.
He has directed the officials to open bank accounts for everyone in Siddipet and provide them with debit cards.
Prime Minister Narendra Modi-led government announced the demonetisation move earlier on November 8.