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

Hello friends.

I am talking about the topic of digital payment secure enough for Indian economy.

Caseless economy would be beneficial and secure for the people. Because if people will use online transaction so we learn many more of digitalized we learn online transactions then it saves many time.

100% digitalization is very good decision if it is taken by government, but It is not possible in our Indian society. Because still in India we can see many people doesn't even know how to use gadgets and how work on gadgets. People are still not properly developed they need more knowledge about how to use it and for gain knowledge about gadgets. Government should start any campaign for that and aware people.

Digitalization good for us because it will help to reduce corruption and government will get help from this. No body will fraud money by selling things without bill. But for 100% digitalization now a days we cannot afford because in villages people still doesn't know about all that thing at all.

The so called 'developing' India will soon be 'well developed' in each and every sector irrespective of region, economy, administration, education and so on if the government Introduce and implement new policies like complete digitalisation. It's a fact that the people especially ruralites will face genuine problems for the first few months like lack of knowledge of operating online payments, lack of gadgets, treat from hackers etc. But these problems can easily be removed by the authorities through awareness programs, distribution of electronic equipments, strengthening of technological sector etc.

Compared to the disadvantages, the programme has more advantages. The method is easy, quick, transparent, and not at all time consuming. There is no need to stand in long queues. We can have record of our transactions. In fact, the rate robbery can be reduced and will be an obstacle for corruption leading the country to more clean in every aspects. IT sector is the one field which is going to gain more benefits from this as employment opportunities will rise into huge number.

More employment opportunities will be created as govt needs more departments and professionals for giving awareness to illiterates regarding the process of online transactions. 24/7 availability of online deposits and transactions are the another feature of this programme. Trade and commerce will gain more profit leading to a revolution in the sector. The rural people will get to know about this modern techniques and this will make a complete transformation in these areas and literacy rate will go up though it takes little time. This 'transparent' system also helps us to track our transactions and queries can be made if there occur any delay or other difficulties.

So, the policy of introducing a cashless India is really a feather to the cap of govt as the country will be more developed in every spheres and will definitely a boon to the future citizens of the country.

Good morning to all of you As according to me digital payment is secure but it is not secure enough first if you have to give huge amount to any company or people it is secure and if you have to take or bring money from the person who live in city then if you bring or take cash then it is risky or chance of robbery in these way digital payment is secure but in our country many people are iletrate and also have not afford gadgets for online payment then in these way it is not secure because if we don't know how to use any thing then how can we use it on large scale and also a problem of cyber crime or network is there so I think first change the mind of people then do it because it is a great way in the field of technology and also it is a chance to make our country educated and developed.

I think the idea of go cashless and digital payment are good but it only useful for that kind of people who can afford the gadgets and who they are educated and aware of using but about poor or illiterate people who they can't afford gadgets to use digital banking so first of all government should educate the people through sum awareness campaign and also teach them for how to aware with hackers and also distribute sum gadgets to poor people.

Digital payment is now is on of the major problem for the uneducated people. Because they don't know how to operate the devices like ATM and online transaction they only know about case transaction system which is running 10000 year.

The point is that people first people should aware of this digital payment system then cashless will improve our economy. If they don't know the the process how India become the cashless India. And before demonetization India economy is increasing now somehow it's decrease. Due to demonetization and GST which impact our economy.

And if India become totally cashless then the unemployment will increase because if all are done online somewhere the person who does the transaction of cash. He will somehow get affected.

Yes, we have secure enough secure for the Indian economy to go cashless. One of the major initiations recently taken up by Indian govt is cash less economy. After demonetization there was no cash in the circulation at that time we have done all the transaction through online by that these are all genuine transaction there is chance to make black money.

100% digitalization is not applicable in the present Indian economy as a huge portion of India is illiterate, lacking knowledge regarding the use of online payments and atms. And the poor section of Indian can't buy gadgets and recharge internet as they have to find money for their day today survival.

Thirdly, the technological problems is also cardinal factor. The professional hackers can easily hack the private information's which is like peeping in to others private space. Again, technical experts can steal money very easily. This is not applicable till the technology is 100 % developed.

Finally, the system can't be implemented all over India, as there are some ares where we can make transactions only through solid money eg. Beggers, worship places, street sellers etc. So, the digitalisation of economy will be a success, if necessary steps are taken.

Hi all, Online transaction is a very good system to grow the economy of India. To make a 100 rupees note there is some expenses. But if we pay or receive money online, the expenses will be less and the growth of India will gradually be increased.

Thank you.

Hi.

Before coming to the point whether these cashless economy and digital payments.

One second thing about the depositing the amount into respective customers accounts in the bank.

If you have sufficient balance only you can make or transfer the amount, for depositing the amount only takes more time. So banks need to be provide facility for depositing amount.

Starting stage from here only need to improve then digital payments and cashless economy will work out in our country.

Thanks.