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

Hello friends, It is a good system if it is being practised we may out of the home without any fear of missing at any time and we will be able to pay at any time. You may say about cyber attacks but it is in out govt hands to be precautious.

Nowadays, cash may not be safe to carry to each and every place so digital payments are necessary and at the same time digital payments must be implemented with strong security as cyber crime technology is raising day by day. Also, in order to make involve every individual in digital payments, an awareness is needed.

Hello Everyone,

I think for making India digital, Indian economy must go cashless. Due to digital payment, we also avoid corruption. But the two problems regarding digital payments that in the rural area of India people don't know about digital payment, so we have to create awareness by providing practical training to rural areas. Another one is we have to also care about the cyber attack. So, to make India smart Indian should go cashless.

Hello Everyone!

Yeah. To some extend because nowadays it is booming as it keeps the accounts up to date. Nobody is going to worry about his/her money as all are in their account only. People just have to keep their cards or cell phones with them for payment. It saves time as they don't have to calculate money. Awareness must be spread through media, campaign for adopting digital payments.

Yes, obviously this is a great step towards shining India. It can prevent tax evasion. Many businessmen hardly disclose their actual Income and don't pay accurate tax and this leads to a weak economy. Recent implication of GST will bring transparency in Indirect tax and digitisation will bring trustworthy in the Direct Tax system. If India becomes fully digitised the inflow and outflow of money of every individual will be easily tracked with the help of Adhar Card and Pan Card so every income will be tracked and taxed easily wich will improve government fund for development. We will never feel the need of foreign investment for India's growth.

Not only the tax transparency but also it will help the honest people to go on. Illegal transactions such as terror funding, underworld transaction, bribe, etc. Can't be done as all transaction will be monitored.

India will be one of the world most powerful country.

At the last but not the least I would like to state as per light of above-mentioned facts that digitisation is no doubt a considerable and important step which is appreciated by several international organisations and individuals including The World Bank, IMF, and ADB etc. This initiative has ignited a light of positivity in the heart of citizen in particular among the young stars which will create a positive neuropathy and will result in a rapid cycle of growth. The whole country will flow by the stream of prosperity, wealth and peace towards a bright and shining future.

As we all know that digital payment to go cashless is the part of transforming India into a digital India in which everyone can make payment without carrying cash and that transactions can be recorded by both the individual and the government that will bring transparency in the system and remove the corruption.

Although, till the time all the citizens are not aware of it the speed of being India digital is good enough. People are very keen to learn to make digital payment.

Indian cyber security is strong enough as it could stand firm in the storm of even Ransome Ware where more than 100 of countries were affected badly by this.

Hello.

Even though the digitization scheme has helped in shifting people from cash economy to cashless economy, however, it has partially failed in the security of digital payments while the hackers are on the look for loopholes to rob people. Govt should take stringent measures keeping in view the recent cyber attacks. Banks should take measure to educate its customers regarding cyber security and common man should change their passwords on a regular basis. Moreover, use of OTP or other similar codes may be used to ensure the identity of the person.

Being an Indian we obviously consider that the security that we have is enough for Cyber attack, but on the other hand we must consider the type of viruses like ransomware which has destroyed the security fence of powerful nations such as the USA, can easily harm our security in digital payment.

No doubt, digital payments are convenient, fast and less troublesome but the latest instances of cyber attack like WannaCry ransomware pose a big challenge to the digital india's dream of making India a cashless or less cash country. It is a forever process of improving our systems as the trouble makers are no less innovative than us. I think from being cashless it's better to be a less cash society so as to provide a support system in case a cyber attack happens.

My dears.

As we see our topic is to discuss *whether digital payments are secure enough for Indian economy or not to go cashless. Of course, it's secure that's why we make digital payments but it also depends on how active and aware we are about security while making Digital payments for example whenever we are asked for save password while making digital payment we must check never save password also keep some security software so virus can't attack because virus don't only make our computer sick but also provide our data to whom who made that kind of virus. And if we face any problem related to security then we just can contact our bank.

So, finally, we know its secured to make digital payments for the Indian economy.

Thank you.