India’s only village where neither ‘Note’ runs nor Bank ATM

It’s an only city of India where people have not seen ‘Note’ from past 10 years… a village where payment for a 10 rupees tea to cigarette is done through mobile payment system. Here the life of people did not get affected by demonetisation. Whether we talk about Auroville town 150 km away from Chennai or Akodara village 85 km away from Ahmedabad, People have made cashless transaction a part of their life. It is because of its own cashless economy.

aurovilla city in tamilnadu india

When there was no existence of Rs .500 notes in India, since then, the trend of cash transactions is down in Auroville city. On the other other hand, in Akodara, the least educated person uses mobile payment system. Here we would also like to tell you that the first 500 rupee note came in the country in 1987.

Auroville City where the trend of 500 rupee note is down

Where this city is located? – In Tamilnadu

Population – Capacity of 50 thousand, about 10 thousand people from 45 countries are residing (Of these, 30% are Indian).

When turned cashless – 30 years ago in 1986

 

How cashless transactions came into existence in Auroville city

In 1985-86, Financial Service Centre was started in Auroville International Town. Since then this organisation is working as bank under the guidelines of Reserve Bank of India (RBI). People living here can credit their money online or offline. In return, Auroville Financial Services (AFS) provide a bank account number.

According to the AFS in-charge of Mr. Ratnam, people can purchase from around 200 Auroville’s commercial center and other shops using the account number. For the guest and volunteer who come here, Auro card like a debit card is issued.

Ratnam says that within the limits of the overall Auroville area there is no system cash payment. But in order to purchase necessary stuff from out of the city, due to the absence of online payment facility, sometimes has to pay cash. When needed, some tourists are also allowed on emotional grounds.

Auroville town is located in the Viluppuram district of Tamil Nadu. Its distance from Chennai is 150 km and Puducherry is 10 km.

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