19 December 2016 Current Affairs: Lanura, a village in Budgam district of Jammu and Kashmir (J&K), became the first village in the state to go cashless.
As per reports, at least one member of every household in the village has been trained to use the Electronic Payment System (EPS) and so far, 150 people were trained for the purpose.
official spokesperson said, the feat was achieved due to the efforts of the National Informatics Centre (NIC) and the CSC e-Governance Services India Limited under the objective of Digital Financial Inclusion. The government has been pushing for digital transactions since the demonetisation move that was announced on 8 November 2016 by Prime Minister Narendra Modi.
Lanura village is located some 30 kilometres away from Srinagar, the summer capital of Jammu and Kashmir. The village falls in Panchayat Bugroo-B in block Khansahab of the district.
Budgam district : Budgam was created as a district of the state in 1979.
Prior to its creation, it was part of Srinagar district, before that Budgam was a part of Baramulla district when Srinagar itself was a constituent of the Anantnag district.
It is one of the districts in Kashmir with a majority Muslim Shiite population.
According to the 2011 census, Badgam district has a population of 735753, roughly equal to the US state of Alaska or the nation of Guyana.
It had a sex ratio of 883 females for every 1000 males and literacy rate of 57.98 percent, which was an increase of 39.54 percent recorded in 2001.
Cashless economy : It is an economy in which almost all transactions are done digitally or by using cards and the circulation of physical currency in minimum. Under the present government led by Prime Minister Narendra Modi, India is trying to switch itself to a cashless economy. Till date, India’s economy was mainly dependent on cash transactions.