Why Money must be materialistic ? What if the RBI makes card - TopicsExpress

Why Money must be materialistic ? What if the RBI makes card transaction mandatory and everyones fortune is rooted through personal accounts only. No paper or coin means no fake currencies and also no black money. If strict online anti-theft can be adopted every transactions can be streamlined. Every vendor must have a swiping facility, which is not very difficult. When I borrow some money from my friend, he can transact the desired amount to my account and so on and on. The black money holders will have to sit out or eat currencies only. Why dont the RBI can do this than recall currencies dating back to 2005..., !?

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