Digital has no limit.

In August, one Rihan Rathod posted a video on Facebook displaying his phone number and "stacks of Rs 500 notes stored in what looks like an aluminium trunk." A woman shows two trunks filled with Rs 500 and Rs 100 notes, holds a note under a light and "highlights the Reserve Bank of India (RBI) strip" and claims that the notes are "AI quality". "It is counterfeit currency being peddled like a consumer product." In 2022, "over 4.2 million fake notes with a face value of nearly Rs 3.82 billion were recovered," wrote Shadma Shaikh. On 8 November 2016, Prime Minister Narendra Modi suddenly announced demonetisation of all Rs 1000 and Rs 500 notes with just four hours notice. wikipedia. This was apparently to catch proceeds of cash transactions (black money), to escape paying tax, and nullify counterfeit currency. Out of Rs 15.41 trillion, Rs 15.28 trillion or over 99% was returned to banks. Only 573,891 fake notes were detected between April 2016 and March 2017. "The total number of notes withdrawn stood at 24.02 billion," which meant that counterfeit notes detected "represent close to 0% of the withdrawn notes," wrote Vivek Kaul. Notably, "India lost a staggering Rs 228.4573 billion to cyber criminals in 2024, marking a sharp 206% surge from the Rs 74.6518 billion reported in 2023, the ministry of home affairs informed Parliament." TOI. Decentralized Finance, or DeFi, reached a total of 14.2 million wallets globally. India ranked at number three in DeFi value. "DeFI platforms operate on blockchains and offer financial products and services... without the intermediation of traditional financial institutions like banking," and "do not ask for an address, phone number or email verification." DH. "Several cybercrime cases in recent months, according to investigators, have shown a recurring pattern as most of the arrested accused were allegedly working in collaboration with Chinese nationals of gangs operating from abroad." ET. Indians, it seems, are adept at learning new types of internet crimes and have no hesitation in collaborating with enemy nationals to dupe fellow Indians. "Government data shows Indians lost millions of dollars to 'digital arrests', with reported cases nearly tripling to 123,000 between 2022 to 2024. The scam has grown so rampant that the government has resorted to full-page ads, radio and TV campaigns and even a prime ministerial warning." BBC. "In recent years, India has witnessed an unparalleled rise in digital transactions, making a significant milestone in its journey towards becoming a cashless society." UPI, IMPS and NETC FASTag provide the means. "These technologies have not only made financial transactions easier but also more secure, ensuring that users can engage in commerce without the fear of fraud or theft." pib.gov.in. Absolute lies, because "The expanding digital landscape has enabled citizens to access digital services at their fingertips. At the same time, it has also widened the attack surface for cyber frauds, making cybersecurity a national priority." pib. gov.in. A person carries a finite amount of physical cash and so the loss is limited. Cyber crime can clean out an entire bank account. The Indian government is directly responsible for forcing us to go cashless because of its obsession with surveillance of citizens. People will react by trying to bypass traditional financial avenues. DeFi is only the beginning. If this multiplies the government could lose control of the economy. Deal in cash. Cash can't be DeFied.