[Legacy Report] Republic Day Parade
The 68th Republic Day is celebrated in all its solemnity and grandeur at VNRVJIET on 26th January 2017.The day on which our country declared itself as a Sovereign, Democratic and Republic state with the adoption of the Constitution all the Student Chapters and various clubs of our college came forward supporting their respective themes which would lead to a better India.
We, the members of VNRIEEE always being on a par with latest trends in technology and digitalization demonstrated our theme on Demonetisation using placards and charts to convey its true essence. This ambitious move which shook the nation is currently the need of the hour seeking a whole new transformation. In support of our theme, we discussed the following topics.
- Consequences of Demonetisation
- Need of Transformation
- Digital Payment Platform
- Positive Outcomes
Firstly, talking about the consequences, when PM Modi announced that currency with the denomination of 500/- and 1000/- would cease to be the legal tender from 9th of Nov, the whole country was stunned. This decision caused sensation in the whole country. Social Media was flooded with messages and information. We depicted the consequences like people counting the trash they had accumulated for years legally or illegally, the longer ATM queues and the fall of higher denomination notes overnight in a novel way using various art works.
Demonetisation is not all about banning the old notes and replacing them. It is bigger than what it appears to be. For an instance if we consider one of the motives of demonetisation is to put a check to counterfeit notes, it might be successful only for a short term. In a long run even these replaced notes get counterfeited. So, the solution for that problem is not just partial replacement but a total elimination and this is what brings into picture the concept of cashless society. The 50 day struggle, a billion people faced due to cash crunch is not to make them run in search of new currency. All it aims is to make them think of alternatives and methods to replace cash thereby bringing a whole new dimension to the field of economy.
To cope up with present scenario and to yield the maximum fruitful results of demonetisation we called out for a Cashless and Digital India to transform India into a digitally empowered society and knowledge economy. On this august event we threw a lime light on the various digital payment methods like mobile wallets, mobile banking, USSD, AEPS and internet banking.
We took this opportunity to bring an insight over the positive impacts of Demonetisation by summing up the points as below. Black money is used for illegal activities like terrorism funding, gambling, money laundering and inflating the price of major assets classes like real estate, gold. Due to demonetization, all such activities will get reduced for a while and it will take years for people to generate that amount of black money again and hence in a way it helps in putting an end to this circle of people doing illegal activities. Due to elimination of black money which is stagnant, more currency comes into circulation and hence increases the Gross Domestic Product of our country.
Finally, we gathered all our exhibits and presented them through Show and Tell to students and faculty members. Our discussion with faculty members about the recently introduced BHIM app was very intriguing and the responses from the some of the students, saying that they are getting even their pocket-money through Paytm made us realize that the movement has started and India is on its way to get transformed into a completely digital cashless society.
Date and Time
- Start time: 25 Jan 2017 09:00 AM
- End time: 26 Jan 2017 12:00 PM
- All times are Asia/Calcutta
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- Hyderabad, Andhra Pradesh