Are digital payments secure enough for the Indian economy to go cashless?

Digital payments are building our lives more convenient with better standard experiences before naming India many nations are completely or almost partially cashless as those all are well versed with technological advancements but after a long of period of independence and democracy still we are rising in right manner still we have huge of loopholes in our system and unable to make adequate growth as required. Due to hackers we have implemented many cyber crime courses as well as professions cause of country like India has every Resourcefulness (jugaad) of everything which is decaying us from growth.

Government, criminal links to parties, resourcefulness and rigid attitude creates pitfall where nothing is secure, linking Aadhar card will definitely lead to crimes. E-banking and unauthorised sites & hacking goes hand and hand, Indian system won't ever secure itself just we have to be extra-smart for curbing and confining these thefts of all types, otherwise system won't be that strong ever. I am not against my motherland but we compare at global level we have certain bad traits in our bureaucracy and nations which are not letting us strengthen, so our system can't assure our digital security at current scenario its not completely 100% secure like other nations.

Hi friends, I am in favour of digital payments and the reason is cash in hands are really a big danger of life now a days,because cash attracts local thief,snatchers, kidnappers. Those types of people always have an eagle eye on others money.So digital payments give us safety from these types of disturbing elements. And our transaction remains in safe corner.

Hi guys,

If our country will be digitilized then it will be boon for our country but there some serious peoblem in digitilization that is server down.

Just imagine when all the payment will be done digitally at the same time then server may be down in this way all the payment will be stopped and it will affect all over country so I think first of all technology will have to be made strong.

There is no qustion of educated or uneducated, we need to educate the people about digital transactions only.

First, good morning to all friends and thanks for giving an opportunity to discuss this topic. Digital India means to save the time during the transaction of money. When we have transferred the money than it will be very useful.

There are more important to save the time and transfers the money anytime from anywhere so it is a very helpful for developing the our economic country. In our country digital system os better of growth the economics condition and when reforms of economic conditions in our country than there will be developing our country. So we have to use of the digital system. Thanks.

Hello everyone,

I am Srikar, I agree with everyone who supported the above statement is true, but when a good reform like digital payments is introduced there should be some definite solutions to avoid the problems faced by citizens in adapting to the reform and they should be given freedom to choose their way of payment I think it is basic.

Yes, I do agree that digital transactions and payments in India will promote our GDP rate. We Indians are lagging in digitalization like online money transfers and certain criteria. Our NDA govt is encouraging digital payments and they have recently introduced BHIM app for any sort of online banking. And nowadays many people are using paytm app for quick net banking and I suggest it is very trustworthy and safety app through which we can make our payments and transactions in an easy way. But people who are living in most of the villages and who are illiterate are unaware of these types of digital banking. So my conclusion is that every individual who knows these things should encourage digital payments and explain for those people who are unaware of it.

According to me, no system can become 100% safe and secure ever. It's because as system get improvement it becomes vulnerable at the same time because of there is some flaw which becomes the opportunity for the hackers. So according to me, there must be a robust system which can detect the breach in the system and takes necessary steps. Prevention is always better than cure.

Hai friends, in my opinion, digital payments are not helpful because there will be negative thought in the minds of people that it will not be practical and unsecured, they think that transactions using paper money is more secure than digital money because if the transaction fails the money will be refunded only after a couple of days. So in my opinion, digital payments are not much secure than traditional money transactions.

Thank you.

Yeah, there is need to go cashless for sake of growth but there is a twist. We are in India remember this India is highly populated with low literacy. This low literacy problem is the barrier in the way of going cashless. There are possibilities to steal money from people's digital account without any hacking just asking them there passwords and credentials. Before taking any step towards this we have to educate them how to use digital accounts.