Ravindra Saini, president of the AOA, said handling large amounts of cash has created a lot of problems such as mistrust, differences in payments and receipts, and even fake notes.
The AOA of Jaipuria Sunrise Greens, a residential society in Indirapuram, has decided to stop using cash for paying the society’s bills. The society's maintenance charges and electricity bills will now be paid through digital modes of payment.
Speaking to City Spidey, AOA members said that every month, the society of around 1,100 flats makes payments of about Rs 70 lakh, of which about 40 per cent was being done in cash. Ravindra Saini, president of the AOA, said handling large amounts of cash has created a lot of problems such as mistrust, differences in payments and receipts, and even fake notes.
“Once received, the cash needs to be carried to the bank, which is quite risky, given the number of cases of snatching," said Saini. "Now, payments can be made through NEFT, RTGS, cheques, debit/credit cards and even apps. This will solve the problem with huge cash transactions."
When asked if the AOA was strict about the decision, Saini said it depends on the situation. “If the person is helpless and has no other way of making the payment, or maybe in case of senior citizens who need an immediate recharge for the electricity meter, cash transactions will be allowed,” Saini further said.
Saini further said residents used to make cashless payments until 2012 but the process was changed by the AOA which took office that very year.
Anil Arora, a resident of the society, told City Spidey that the procedure is actually beneficial for both residents and the AOA alike. Arora, who normally used to make payments in cash, said he would no longer have to withdraw cash and pay transaction charges that way. Moreover, Arora said the initiative will also be less of a hassle, as the AOA will not have to carry huge sums of money to the bank. “It is definitely a good decision as not only does it solve a lot of problems but also rules out the possibility of any problem,” added Arora.