Thank you @firepower for taking the time to put down all those thoughts about the financial system in India at the moment quite accurately.

It’s outrageous that such kind of greed is what is driving our country’s financial institutions! I hope in a few years we can still retain the freedom to use our own money for whatever purposes we see fit.

Any nation that threatens to lock down the finances of the common public to rescue banks that are steeped in debt caused by irresponsible lending will find their citizens moving their finances to more transparent avenues even if there is a significant amount of risk involved. Hence the blockchain and crypto community makes a lot of sense to invest in.

Undoubtedly it’s only a matter of time before crypto currencies achieve mainstream success. Surely, we will see a lot of ‘arm twisting’ strategies from the government and the income tax department regarding how we utilize our private funds but it remains to be seen which way they would go in terms of regulation.

Will be waiting for some ‘clever, resourceful and ‘jugaad’Indians to come up with something even before the government allows banks to close certain doors.