Merits and Demerits of Cashless Economy

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Shalini said: (Feb 25, 2020)  
In my opinion the whole concept of e-commerce is a very advancing field. Green platform for transactions. People were busy investing their time and money on commercial trading platforms purchasing their requirement when the cashless economy soon became a major roll out for every individual with smartphones in their hand. Since the advancement of e payments money is more transparent. It has saved a lot of time from ATM queues, the collecting re1 toffee which shopkeepers give us in return for coins.

This is quiet a lot of saving which we may not realize in our day to day chores. Whether we have cash in our hands or not its not like we cannot purchase stuff. From buying fruits from a fruit vendor to shopping in malls we are positively advancing in terms of mode of payments. Everybody is switching e payments because its easy to handle. Like everything we know this has its own demerits as well. Expenses have increased comparing to what it was when we use to trade in cash. Every transaction is under scrutiny. Not functional if the internet connectivity is hampered. Thus this facility is still not accessible to certain section of society.

Thank you.

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Prasanna said: (Feb 24, 2020)  
Once cash will become imaginary then it will be easy to handle it. Example for that if a man does lacks of rupees transaction, then keeping this money as hard cash will be more dangerous. Instead of this transaction through account leads to more safety for Cash.

Since coin has 2 faces, at the other hand, if any server not maintained correctly then it would be easy hunt for cyber-criminals. That's it. Thank you for reading this.

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Anonymous said: (Feb 23, 2020)  
The merit of cashless economy people can keep it safe. As cash is known as form of trust. Its good for shopping and we can know the updated information. If we go from home if we have forgotten to take it we can send money from our mobile itself.

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Tanmay Biswas said: (Feb 23, 2020)  
Hello everyone!

I want to share my views about the merits and demerits of cashless economy. At first I think cashless economy is very advantageous. People buy anything and solve any money related problem with online mode. Here liquid cash do not need to carry. Moreover, previously we cannot carry a lot of cash money because there is lack of security. But in case of cashless money we can transact a lot of money as our wish and there is a few chances to failure. To inaugurate the cashless economy the amount of black money are significantly reduces. For this we can shopping from amazon, flip-kart, etc., any time and there are a cashback option.

But cashless economy has some demerits too. Here for transaction there need to internet connection. If the internet connection is lost, there is chance of failure of transaction. And now in cashless economy hacking is a major problem. And cashless economy facility do not go in rural area.

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B.Rahul said: (Feb 15, 2020)  
Merits of the cashless economy:

The first thing is India will have developed with the cashless economy. The money will be safe with us no one can able to steal from us. If the money will be in pending also they may be refunded to the sender account else reviver account but the money is safe. We no need to write anything about transactions in a book because it will store all the data of transactions. At last, we can't able to delete the data of transactions.

Demerits of cashless economy:

The main thing is with the cashless economy the chances of black money will increase. In some cases the money may be in pending due to the busy service then it takes some duration of 2 to 5 days of bank working days. In India many people are uneducated so they didn't know about the online money transaction. There are so fake apps in transactions.

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Shahzaman Khair said: (Feb 13, 2020)  
First I would like to explain the merit of a cashless economy. There are lots of benefits in a cashless economy like we can transaction amount within a minute. We don't have to carry money with us. Reduce the risk of theft, We don't have to the problem of currency change. We don't need to stay in the queues of banks and ATM. One best thing is we have each and every transaction records.

If I talk about Demerit: Sometimes we can phase fraudulent, Server issues of Banks, delay of Transactions and one of the major drawbacks is poor and illiterate people don't know how to use this.

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Priyanka said: (Feb 13, 2020)  

1. There are many benefits of a cashless economy. I will talk in favor of it. The importance of cashless transactions has grown from the demonetization phase. Nowadays, people preferred cashless transactions because there can be an announcement at any time that after 12'O clock certain notes will be banned.

2. In Cashless transactions you don't have to go anywhere you can make payments even from your home at any time. It saves time. Cashless transactions are faster.

3. The cashless economy will reduce corruption. Every transaction would be on record so this will make any process transparent and smoother.

4. With the cashless economy, people will open more bank accounts as it is needed for doing cashless transactions. So it is beneficial for the country's economy.


1. People in a rural area or older people don't have knowledge of doing cashless transactions.

2. There are chances of hacking or fraud by asking OTP through fake calls.

The cashless economy needs the internet. Without the internet, the cashless economy is failing.

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Sahithiz said: (Feb 5, 2020)  
I would like to talk about the topic of cashless economy merits. Well, coming to the cashless economy is obviously advantageous nowadays. It is eco-friendly and mostly imp thing is it reduces time. And also reduces the correption. The cashless economy also leads to technological life that is digital life. By using liquid cash there is a huge chance to lost money anywhere or a chance to corruption so cashless economy reduces these points.

The next I would like to talk about demerits. Coming to demerits, they are less points than merits. Demerits are there is a chance to insecurity to our transactions and also internet problem. The main thing is without internet we can't pay the money.

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Ishfaq Ahmad Mir said: (Jan 30, 2020)  
Good morning/ evening everyone.

I want to share my views about the merits and demerits of a cashless economy. Before telling about the merits and the demerits of the cashless economy we need to understand what the cashless economy actually means. As we know with the advancement of the technology we produced some invaluable systems which are helpful to human beings particularly after the invention of the "Internet" the economic system took a drastic change as we are moving from the cash liquidity to cashless economy by making everything digitalize. Following are pro of the cashless economy:

(1) with the help of cashless initiate, we are able to acquire all services like the ones which we would have not imagined before as we don't need to wait in queues in banks as we can do transitions without the hassle.

(2) The cashless economy saves our important time.

(3) the system of sending the money from one bank to another bank is easy to use.

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Abhishek Ghadge said: (Jan 28, 2020)  
Hello good morning.

Today we can discuss abou merit and demerits of cashless economy. I think that there are more merits than demerits and also everything it's merits and demerits.


1. Indian government take the decision of cashless country so it is helpful to reduce corruption.

2. We can save time with the help of this. Because We can excess the money anytime and anywhere on our mobile application like G pay, phone pay.

3. As we know about the cash so trees are cut and made cash due to which cashless economy is ecofriendly.


1. In rural area, there is a network problem and they are not excess that one.

2. In village people are not aware about mobile application.

So awareness is important to and helpful to cashless India.


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Vikash Singh said: (Jan 26, 2020)  
I think merit of cashless economy is much more than its demerits. Cashless economy is more important for corruption free economy and society. Today we can see how cashless payment is playing vital role for effective implemention of govt schemes like ujwala yojna, pm kisan samman nidhi yojna. By cashless economy govt can easily implement their fruitful schemes to grassroots people who actually needed. Cashless payment should imperative by govt to implement his yojna because by this govt can reached to needy people more easily and the poor can get full benefits of govt schemes.

But there is demerits also because in country like India many people don't known about how to use digital transaction and get benefits. Cashless economy have the biggest threat by cyber crime. Because in country like India where more people don't known how to use cashless transaction can easily become scapegoat.

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Vicky said: (Jan 25, 2020)  
Hello good morning to all.

If I talk about merit and demerits of causeless economy. I will point some of facts regarding this. First of all, it is the easiest way to transfer the money. With in sec we can transfer. And it's save our time also, on contrary of benefits. Its not good where we have network problem, also in rural areas. Because people are not aware of that app like, phone pay, Google pay, paytm etc. And some security issues also regarding this.

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Toxicity said: (Jan 23, 2020)  

Thanks for giving me the opportunity to speak on this topic. There are some merits and demerits of cashless economy.

I think, cashless is a easiest way to spend money everywhere because as we all know, all systems are digital. In digital world we all carry Android mobile phone. So, everywhere we pay money by only one click (no problems for cash, change money) and it is also less time taking for paying money. It is very simplest way to pay money.

Problems is that, for cashless economy is; the person who belongs to the rural area they don't have cellphones, they don't have knowledge about how to pay online money. I think in India this is very serious problems. They only able to pay money by cash.

Thank you.

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Murali Prasath said: (Jan 22, 2020)  
In my point of View, There is a Merit and demerit in cashless economy Nowadays Some places are available Online payments methods.

Demerits In cashless economy -There is No safety while Paying Money Still Some places using Direct payment. it's Not safety For Our Money so everyone should Use Online payment.

That's all.

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Ajit Prajapati said: (Jan 22, 2020)  
Hi friends.

I am Ajit Prajapati.

Our topic is merit and demerits of cashless economy.

There are many advantages of cashless economy-.

By this can carry every time a huge amount of money every time via mobile.

It's easy to use and withdraw at any time anywhere.

It is pleasurable by storment of various collective security measures.

It's easy to access by others too with full security, means if want to send money to the second party it is possible shortly you don't have to need to go bank other than it reflects our easy and smart work.

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Aditya Zope said: (Jan 22, 2020)  
Hello Friends,

Cashless economy is very useful in day to day life. But as Coin has two faces like wise our topic also has two faces.

Clashless is more benificial, the corruption will avoid by using cashess, It is easy to record on our money.

Few years ago there will be cange in currancy, there will no effect of it on cashless payment.

Demerits are in villages people not have much knowledge of cashless economy. Also due to some issue if our mobile phone is switchoff then it is not possible to pay via cashless.

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Parwinkel Kour said: (Jan 21, 2020)  
My point of view on cashless economy is a great ex factor for those people who had no time for go bank and transfer money. Cashless economy helps the India make a digital India. By this. The amount of corruption is less. We can't stop corruption in India.

Online transition easily develop the country by reducing travelling charges.

Terrisiom fact aslo be stop by online transition. For some point.

Rate this: +4 -1

Piyush Rajliwal said: (Jan 17, 2020)  
On this GD topic, Cashless Economy.

My view is that cashless Economy helps in Digital India. Online payment helps everywhere in villages as well as smart city's. The money transfers fastly everywhere every time.

Everything has some Merits and demerits demerit is that most of the people are not know well about the initiative.

Rate this: +17 -10

Spandana said: (Jan 7, 2020)  
In my point of view there are many merits when compared to dermits using cashless economy because by using the online transactions we can save our time cashless economy van also avoid corruption in India.

The dermits are in India still there is a iileteracy so they don't know how to do transactions in online and there is a network problems in rural areas.

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Palak Mahajan said: (Jan 3, 2020)  
As we know everything has it's own merits and demerits. My view is it has lots of benefits we can easily transfer money we don't need to go to the bank regularly. We can pay anywhere easily. And don't need to carry cash so there is no fear. And it's an advanced technology so we should go with this.

But ya there is a bad side as well like security issues. And in villages, there are no any facilities like Paytm and Google pay. So I may get in trouble.

But the thing is if we use it appropriately then it will really beneficial for us. So I think it's good to be cashless with some knowledge to how to use online transaction apps.

Rate this: +49 -7

Tikachandra Oli said: (Dec 31, 2019)  
Everything has its pros and cons. However, I believe that there are more advantages compared to its disadvantages. The major benefit of adopting a cashless economy will be the reduction in corruption which is the problem of almost every economy. Secondly, cashless economy will reduce the burden and cost for government to print money.

Similarly, it will reduce the risk of physical theft of money. Also, one can pay and receive money sitting at home. Banking institution do not need to transfer the whole cash vault from one place to another, as money can be transferred in single click from computer.

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Ranganadh said: (Dec 30, 2019)  
Hi Friends.

Every coin has two faces right, one face will be the head and the another face will be the tale, so this also applies to the cashless economy also it will be having its own merits as a one face (head) and having its own demerits as an another face(tale), so we need to carry a some little bit of an amount to avoid the problems which are caused by the cashless economy and we need to create some awareness about the merits and demerits of the cashless economy by conducting some seminars and guest lectures to educate and to promote the cashless economy among the people.

Thank you everyone.

Rate this: +9 -8

Jhanshirao said: (Dec 28, 2019)  
Hello friends!

My name is Jhanshirao. I am going to talking about topic cashless economy, before we are going to this topic.

I think any thing have two faces. It is also like that cashless economy is have merits and demerits.

Lets going to topic, cashless economy is little bit worth in India. Not allover the India.
Some organizations are accept this cashless.

Talking about merits:

It is very useful to buy anything from your home and pay that amount through digitaliziations apps such as : googlepay, phone pay, paytm. These are all are banking apps.

It is very efficiency and enhance to us.

To reduce blackmoney, there is no third person involve in this.

And to protect our money from thief's. And no tension and worry about our money will safe. The main fact was.

If went with your money that was 10000 are more. It doesn't matter, we must focus on our mobile phone only for text messages and singles are used to see social media in insta or twitter. But phone is necessary at all time. So in my point of you all the digitaliziation apps are securely available in our phones why we are see another eye will strain for.

Comes to demerits:

The main fault was network problem. For example I face these issue I am in journey going to vizag. And just arriving gotlam. At that time I am send money through google pay, at that time signals were gone. What I am doing at that time?

After sometime signals got in this time my money is pending. Just small notification is displayed that was your money was debited. It will refund in 7 days.

What I do at that time ?receiver say it is urgent to me small rid of his friend.

So these are all are not worth at this time.

And another demerit was if you are going to outside only depend on your apps like gp or pp, suddenly if you are.

Feel go to washroom. At that time you pay 2rs for that. You say "hey urgent tell me your bank account number I will transfer two rupees "are you say like these? no, so at that time minimum amount put in your pockets when you going to outside not only depends on your smartphones.


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Shubham Lawaniya said: (Dec 28, 2019)  
I would like to say fee points only about the cashless system. We know that every system have some merits and demerits also so due to the cashless economy we can save the currency from wear and tear no thefting occurs as well as our money is safe we from other such issues while having no internet service available in your area then you may got trouble with this cashless economy. So if it have 70% positive point then we can not deny that it also have at-least 30% of trouble issues.

That's it.

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Vegito said: (Dec 28, 2019)  
Cashless Economy is a Good idea but in India, it is not implemented totally. Some shops or restaurants are not providing options to pay online. In that case, it is very difficult to do the payment. So my opinion we should carry a minimum amount whenever we go outisde.


--> It is very easy to do payment with mobile or card.

--> We don't need to carry huge amount to do payment.

--> We can save our time also.


--> Sometimes we face problems when there is no network or internet.

--> In India some hotels or restaurants don't provide cashless options, at that time we may face difficulties.

--> sometimes it might be possible to transfer money online.

---> In my point of view we should carry a minimum amount of cash, whenever we go outisde. We don't depend on a cashless Economy.

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Shweta said: (Dec 26, 2019)  
The cashless economy has merit but the number of demerits, for example, we have some transaction app like Google pay, pytm and etc this app is very much security means frauds people hacking this account by Google or any other by any way or if we have some net banking technology there is also some risk.

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Balakrishnan.V said: (Dec 26, 2019)  

In our day to day life, technology is grown. We have to minimize energy, time and to increase efficiency in every work, so we need to improve as like cashless economy for the above-mentioned particulars.


We have to create knowledge about "cashless economy" to every uneducated people and make them access, I think this is one of the major problems if we try to provide a solution for this problem, this issue has also gone away.

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Suneeta said: (Dec 17, 2019)  
After demonetization, the cashless economy is introduced in India. The simple reason behind this is that from small to big work we don't need any piece of paper like cash, we don't need to stand in the bank or ATM for withdrawing and forwarding money to someone else. There are many merits of the cashless economy like it save our time, stop corruption, quick and easy transaction, technology advancement. But on the other hand, there are many demerits like if a person is not aware of internet banking then they can't use it there is a problem with security. Day by day the case of fraud transaction increases. People are not so aware of this.


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Samiksha Kapse said: (Dec 16, 2019)  
Hi everyone,

Digitalization of India has many merits and demerits as we can say we can save the time, we can record our transaction and it will be more beneficial and save our time and not fear a lost of it. But on the other hand, India has lot of people who are iliterate they don't know about online payments and all. As we see the people from the village they don't know about any digitalization as they don't hve any smartphone, internet connectivity.

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Ravikant Kaushik said: (Dec 14, 2019)  
There is a lot of merits to the cashless economy like no hard/physical cash required. This means risk of theft, burn etc. Is minimized. Free from physical wallets, Save time and instantly money transfer from one person to another with full security.

On the other hand, Demerits like Uneducated persons are not aware about it's security reasons and frauds.

This means awareness is require to make our India digital. The whole world is going to digital. Let's take another step in this world changing revolution.

Thank you.

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Kamlendra Kumar (Kk) said: (Dec 6, 2019)  
The digitalization of India is very beneficial to all.

Educated or uneducated people's it's makes simple to living and many uneducated persons learning many new things. Digitalisation also empowered to create jobs and businesses. But we have to increase the security of digital products. The most important thing is it is save time to transfer the money so it is unconditionally acceptable i.e. digitalisation is beneficial to whole world.

Thank you.

Rate this: +17 -5

Sree said: (Nov 28, 2019)  
The cashless economy should be implemented in our nation in a proper way such that people who are illiterate, and from rural areas are not much aware of the online payments so that they should be aware of these Technics as such, they can also use this process in a proper way. Having a cashless economy is very beneficial in our present situation as it replaces many problems. It may lead to the reduction of corruption, increases safety, makes work easy, time consumption will be reduced.

Rate this: +38 -8

A Chintu said: (Nov 26, 2019)  
Hello guys this is one of the most important thing and cashless system in India economy but we have draw back also in this cash less economy old age people can use this debit card and credit card they don't know how to use this is one of the draw back. And advantage id for the people are using debit and credit cards we can use any Time any were in stores and shopping malls with ATM cards it's will very helpful to the people.

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Jay Patni said: (Nov 19, 2019)  
As we see the positive side of a cashless economy, there are so many benefits like now people are no longer in a compulsion to carry paper money, they can easily carry plastic cards that are debit/credit cards or may use an e-wallet to pay at the store or supermarkets. So now people no longer have the risk of losing money by getting theft or wet.

But on the other side, all people do not know using cashless methods of payment. For example, illitrate people face trouble in this system. Formerly it was also a big issue that everywhere cashless system was not adopted. Some stores were there where the only cash payment was accepted. But nowadays, except only a few places, card payments or e-wallet payment or both are accepted.

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Avi said: (Nov 18, 2019)  
Hi guys, I thinks there are both merits and demerits of cashless it's depends upon person to person i.e if A person is aware of online things (i.e online transaction ) then they can go caseless and can easily handle online transactions , but if he is not very much aware of frauds that can happen with him with only few information evasion he can loss their money with only few clicks hence it is very much depends upon awareness of people awarness of using online things ..there is no doubt that cashless economy has many benefits but these benefits can reach to people only with their own awarness and consciousness and also with government's initiatives for creating awarness among people for online frauds

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Samarth Gaur said: (Nov 12, 2019)  
1. According to me if India uses digital mode of payment then there would be less corruption in the country. There would be less tax evasion and the government gets more funds as a tax which can be used for the development of the country.

2. Cash can be steal, lost, torn or rob but if the debit card is lost then would be no loss of hard earned money of citizens.

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Jaya Dileep said: (Nov 12, 2019)  
Hey guys, in my opinion, cashless economy is good. Because nowadays there are many robbery activities are carried due to cash in hand. I honor our prime minister for this wonderful idea that has been initiated in India. The cashless economy makes the transaction very easier than before just one click transfer amount from the own place. There is no need of taking cash in the pocket or wallets. We can pay the expenses with the help of ATM cards credit cards which will be more convenient for the people.

"The coin will have its two faces". If there is a merit and then there will be a demerits also,

Even though the cashless economy is good but there are some drawbacks. Without network facility we cannot make a cashless transaction. Then there is trouble with the uneducated people by using the cashless transactions.

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Ruchi Sengar said: (Nov 9, 2019)  
A cashless economy is one of the major outcomes of digitalization. By the time, our honorable PM Shri. Narendra Modi Ji raises the slogan of " Digital India", the cashless economy is in great use.

It is of huge advantage as it first reduces the chances of robbery. In spite of this, it is a way easier as it doesn't require any extra activity to handle and just by one single click, one can transfer money, request money to and from others respectively. The cashless economy also provide a way to shop, pay bills, order food just by simply sitting at home.

"Every coin has two sides".

Likewise, every single thing has two phases i.e., positive and negative.

Demerits of going cashless include cybercrime. As a number of cybercrimes are going on in our country, and if any such crime happens regarding a person's economy then it can strike the person inside out.

Also, the cashless economy has a demerit such as transfer money up to a certain limit. There is a predefined limit assigned to it.

Thank you.

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Shelly Agarwal said: (Nov 8, 2019)  
Hey everyone, in my opinion cashless is a great initiative when we see easy way to pay out bills, to make payments for anything, to order anything online become so easy and quick but there are people on the other side who don't know online payment system because of lack of education and facilities to them.

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Abhishek Gupta said: (Nov 6, 2019)  
Digitalization is result of a cashless economy.

Cashless economy is great initiative by our Prime Minister. Cashless transactions help to reduce bribes in public sector, colleges as well in the private sector. We have every record of transaction which can be used in future. It saves timer as well as our effort, but country like India have very low literacy rate. The government should form a certain organisation to let every one aware of digitalisation.

The government should also focus on security as hackers can steal money.

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Nishikant said: (Nov 1, 2019)  
Hi, I'm Nishikant.

Cashless not only eases one 's life but also helps authenticate and formalize the transactions that are done. This helps to curb corruption and the flow of black money which results in an increase in economic growth. The expenditure incurred in printing and transportation of currency notes is reduced.

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Dhananjay said: (Oct 30, 2019)  
Hi, I am Dhananjay. All points given by the members are very genuine and it is to be considred that changes take time. However, we have begun the era of a cashless economy. Altogether it is also the prime duty of we people to not be depended upon the governement for everything. We can also spread awareness among the locals and educate them on how to part of the cashless economy. At large the transformation will reveal in India in the year to come. One more point the availablity of internet connectivity at a lower price for the rural areas can also speed up the cashless economy. Banks should also promote it by charging less on the cashless transactions.

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Shannik said: (Oct 28, 2019)  
Hello to all readers.

In addition to the merits & demerits that are listed above. I would like to throw lights on additional points relevant to cashless economy.

Merits :

Easy to buy goods /make utility payment.
Remains record of each transaction made.
Saves ample of time in this busy world.

Demerits :

Our country people has shortage of electricity and internet facility.
Education awareness come secondary when above problem will get sorted.
Our country is very economical, so cashless transactions for products worth of Rs. 20 to 50 is not worth.
Interaction with outer world will become more professional than friendlier.
Banks hefty charges for amount of transactions you make.
When we possess cash we have fear of thieves, similarly if we completely do all transactions on cashless basis thieves will continue their job by hacking account.

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Sonia Vishwakarma said: (Oct 19, 2019)  
Hey guys I'm sonia nd I think that India is not fully ready for cashless economy.

Cashless economy is an economy that promotes digitalisation so firstly, indians should know that how to get benefits from digitalization, for that everyone should be literate and educated because if you don't know how to excess digitalization then you can be cheated. India's population is increasing day by day and everybody knows the financial condition of India where literacy rate is very low, here everybody do not get the chance to get education due to uneven distribution of income poor are becoming poorer and the rich are becoming richer day by day. Only educated people have excess to cashless economy.

The government should take initiative to guide and me them jnderstand that what is the cashless economy.

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Rajneesh Mishra said: (Oct 18, 2019)  
Hello everyone,

My name is Rajneesh Mishra and I would like to put my point on cashless economy.

I think every thing have two face so cashless economy also have merit and demerits.

If we are talking about merit we can easily pay money to anyone with in second so it take less time and we don't need to take more money in pocket. Our money secure by the thief. It is very secure and we have detail of every transaction that we can easily see.

We don't need to stand long queue of bank line we can easily pay to everyone with record and with security.

And if we talking about demerit of cashless economy.

1. Not more educated people so it create problem because there are many hacker they Target to that people and stolen the money with fraud.

Conclusion-India is not ready to totally cashless economy, first thing goverment must take organize the camp for people awareness.

Rate this: +51 -8

Suresh said: (Oct 17, 2019)  
Hello everyone, I'm Suresh, I strongly accept that a cashless economy has lots of benefits. The people of India having many advantages from this project. Today we can send money to anyone in this world by sitting in your home or by the place where you are. This cashless economy helps to reduce robbery because people won't carry money in their pockets. , also it reduces printing paper to make currency notes. In order to do transactions, we still are using applications like PhonePe, google pay, etc, which helps in digital marketing also., most of the Indians are from agriculture backgrounds they are not much aware of this banking transaction or online transaction and all but we can teach them and we can improve it. And also it helps in the reduction of Black money transactions Because everything will be transparency.

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Suhangi said: (Oct 16, 2019)  
Good afternoon everyone,

I am aggreeing with the fact that cashless economy has large number of benefits. As it reduces the chances of robbery and people is not required to carry money in their pockets, Saving of paper which is required in printing of currency notes, increase transparency in transaction which reduces the black money transactions. Since there are large number of benefits but there are some disadvantages also like online frauds are increasing day by day, in our country most of the people belongs from agriculture background where they are not much aware about the online facilities and activities.

So as every situation has some pros and cons, then in a cashless economy also there are some pros and cons.

But if create awareness among people for the cashless economy then I will be helpful for the development of our country.

Thank you.

Rate this: +14 -6

Manish Nagore said: (Oct 15, 2019)  
Hi everyone, I am Manish Nagore according to me we have lot of benefits merits cashless economy. I would like to say that devlopment is necessary for us. If I talk about the cashless economy it's very easier faster as well we all know that when we pay money via paytm, phone pe, google pay these kinds of application so we get cashback also. Another point I would like to add account to account transfer payment very easy. Why I am saying that most of the time it happens we stuck any emergency then we don't have cash. That time someone easily helps with sending the money. It's very useful for as.

Rate this: +12 -4

Bhawna Verma said: (Oct 2, 2019)  
Hello everyone,

This is Bhawna Verma.

I am in favour of the cashless economy because this is a very easy way to pay the money. The cashless system brings down the cost associated with printing, storing and transportation of cash. A lot of eCommerce website offers huge incentives in terms of discounts, cashback to the customers for making a digital transaction for shopping online. And we can do easily these cashless transactions with high security.


Rate this: +65 -9

Shivika said: (Oct 1, 2019)  
Yes,India is ready for cashless economy.Through this corruption can be aborted from our society . Now a days,our major part of corruption is due to ready cash.Without corruption India would soon become a developed country,thus cashless economy is the only way........

Rate this: +18 -9

Anshul Ojha said: (Sep 27, 2019)  
Good Morning All of You,

My name is Anshul Ojha.

I am in favour of the cashless economy because this is a very easy way to pay the money. The cashless system brings down the cost associated with printing, storing and transportation of cash. A lot of eCommerce website offers huge incentives in terms of discounts, cashback to the customers for making a digital transaction for shopping online.



Rate this: +17 -11

Sumeet Tiwari said: (Sep 18, 2019)  
Good evening everyone.

As, if we are aware that. Everything has two faces. But from my point of view.

I think Being cashless or being digitalised is not worth.

1. Having cash in pocket we feel more comfortable as if we want to buy some small things. Want to pay Transportation fair or many. Etc. We can't talk about any app.

2. Just a small example. If you want to go to the washroom if you are in outside. Then they charge you Rs2. Will, you said that give me your. Account number. I will transfer it?

3. Being cashless means all cash in one of our close friend (mobile). Right?

If it goes switch off. Or something happened. Can't even you think of to buy? Or to do anything.

Thank you.

Rate this: +146 -54

Tej Pratap Singh said: (Sep 17, 2019)  
Good evening everyone.

Today we are going to discuss on the topic "cashless economy" which is very fascinating topic which we have to discuss upon.

So Let's start.

Cashless economy means where the economy is digitalized. It is especially coined by our prime minister ahead with its plan to Demonetize the currency note of rupee 500 and 1000.

As we all know every initiative have it's own pons and cons so as the cashless economy has.

Now, I am discussing the merits of it.

1) Now don't have to stand in queue for a long time in banks for small transactions.
2) Now we don't have to walk with a lot of money to purchase something.
3) You can also pay your electricity bill or water bill or any bill through online you do not need to go anywhere.
4) It also helps on our GDP. Which is more important?
5) Black money is totally obsolete because no involvement of the third person is there.

Now comes for demerits.

1) Most of the small cities and villages oblivion of the country.
2) remote areas don't have proper knowledge on how to handle online transactions.
3) Most of the rural areas don't access the internet because of network problems.
4) Most of the people worried about security for cashing transactions.
5) Refunding the money also takes much time.

From my point of view, the cashless economy has both merits and demerit. But I am with merits because they are in the majority and also very helpful. Because it saves time. And time is so important nowadays.


Rate this: +126 -14

Monika said: (Sep 15, 2019)  
Hello everyone,

According to my point of view, it is safe and secure for all transactions. But as every coin have two sides, so most of the rural people were not having more awareness about the cashless economy so the government should take a step to give some awareness.

Rate this: +26 -7

Arghya Chakraborty said: (Sep 14, 2019)  
Cashless economy means where the economy is digitalized. Cashless economy specially in India is a term coined by our PM went ahead with its plans to demonetize currency notes of Rs 500 and Rs 1000. There is some good things associated with this.

Like I) people especially older persons or women do not need to go market with cash which can be theft. They can easily buy something at home without any physical activity.

II) for a person with a child, to save time for their child they do need to go to market, to pay the electric bill or any other things. They can do it at home.

III) when you go to the market you not only spend the money for those particular items but also you have to pay the transportation. But after this, you need not go to outside or pay transportation charge.

IV) when we talk about cashless there is a term that PM Yojanas for farmers, low-income persons. They can not get their total money because brokers do not give them what they deserve. Due to a cashless economy, every person should have a bank account, so the money will be transferred to their account directly.

V) there will be no black money-related issues.

Demerits: As we know India is a developing country and a large number of people do not know about technology. Without money their life becomes complex. What they have to do, how to start, these things make them depressed.

If midnight we need emergencies like medicine or something we should have money. Etc.

Rate this: +16 -11

Jibanjyoti said: (Sep 13, 2019)  
Hello everyone.

Thank you for giving me this opportunity to said about merit and demerits of cashless economy.

First of all, I want to describe the merits of a cashless economy.

In cashless economy, we save our paper, transport.

No need of carrying a lot of cash.

The people can view all their transaction and prepare their lifestyle according to the money.

Let's talk about demerits.

In the rural area, many peoples are not aware of the cashless economy.

They confused in every situation.

The most important thing is that some of the people facing many fraud calls.

In a rural area, maximum people have not a smart phone so they can't use an online transaction.

That's all.

Thank you.

Rate this: +30 -8

Ajay Bhardwaj said: (Sep 12, 2019)  
Hello everyone.

Today, I would like to bring kind your attention about to cashless economic and how much benificially for Indian eco. First of all, I will discussion toward to merit you all know from comes to technology internet factor is full swings rather than before day. Paperwork, time value knowledge and health and many thinks are reducing.

Demerit: A person doesn't have proper knowledge about it. They are illiterate. Some time hacking problem we are facing.

Rate this: +8 -15

Arnab said: (Sep 8, 2019)  
Good evening everyone.

Today we are talking about the merits and demerits of cashless economy. It was a great initiative was taken by our prime minister to make digital India.


1. Reduces the cost of printing, storing and transportation of money.
2. There is no need for carrying a lot of cash.
3. The transaction of money is there will be less corruption in the country.
4. It provides us with the transparency of work.
5. Secure transaction.
6. We can pay many kinds of bills like the transportation bill, electric bill etc. We can buy movie tickets, pay the food bill in one touch.


1. More than 60%of people in India come from a rural area. 25% of them are illiterate and a large percentage of people illiterate of mobile and they are not comfortable with this.
2. Security is another big reason for cashless transaction.
3. Sometimes internet speed and electric may problem some tie.

Rate this: +46 -6

Rahul809 said: (Sep 5, 2019)  
GoodMorning Everyone,


1. No need to take your wallet.
2. Transaction the amount in one click.
3. Paperless work.
4. Secure, safe and directly go to your bank accounts.

With these benefits, people will do more transaction even a small transaction. No need to give the change rupees where change rupees (small coin) is always a shortage in India.

Many companies such as paytm, phonepay, Google UPI, Amazon is looking forward and supporting the cashless economy.


1. Easy to someone to do fraud if personal data is sharing such as UPI password.
2. Many people are not aware of digital payment and afraid to do payment mainly in a rural area, senior citizens.

Conclusion: There is always a merits to connect with digital because it saves time and time is money.


Rate this: +55 -7

Sumit Singh said: (Aug 30, 2019)  
Hello, Everyone.

1. Cashless economy brought a huge difference in poeple life.

2. It saves our time, a few years back when we have to give someone's money and we don't have cash then it takes a lot time to pay the money but now everyone has their own phone wallet and this transaction can be done in seconds.

3. Almost every class of people are interested in cashless transactions, people who are involving in small businesses like tea seller or even rickshaw business also have their phobe wallet.

4. Now even a small amount of money is easily transferred to the bank's account without going to the bank.

5. We can pay our home's bill like electricity, cable etc without going to the office.

Rate this: +45 -10

Shivam Singh said: (Aug 26, 2019)  
Hello everyone.

Today we are going to discuss about merits and demerits of cashless economy. With rapid innovation in technology sector, advanced methods and processes are being adopted that are make life easier. Cashless economy is such a thing where trade is done digitally unlike on paper. It is fast and more accurate but it comes with its own problems and that is what we are going to talk about.

Cashless economy has led to less paperwork involvement which can also reduce space required to handle and store the documents. Because of that access to reports and documents has also become easy because everything is just one click away. However it is prone to cyber attacks and a system has to be designed properly to make it hack-proof.

It can also be used nefarious purposes like we can take the example of Bitcoin. It is known that through Bitcoin people conduct underworld and sinister businesses online and because of the technology of bitcoin there is no way to track it. This can cause some serious problems in legal businesses of corruption is money is not traceable.

In brief, system of cashless economy should be designed in such a way that it is easily traceable and hack-proof and only it will be a trustworthy system.

Rate this: +26 -5

Aashish said: (Aug 21, 2019)  
Hi everyone,

Everything has prons and cons as such, Cashless economy has also its merit and demerit.

When we talk about the merits of the cashless economy then first thing comes in our mind is it is an easy way to transfer the cash through digitalization.

Secondly, This saves the huge money on print the currency.

Thirdly, you can track every transaction easily. It may help reduce the corruption and malpractice that things affect our economy.

And last but not least it helps grow our economy very swiftly. And it also reduces the threat of fake currency that majorly affects our economy.

When we talk about demerit of cashless economy.

Firstly, we need a proper law and regulations. And it should be implemented on the ground. And I think there is an authority or body like SEBI, RBI who regulate all these things.

Secondly, there is a lack of knowledge may be the big hurdle of the cashless economy and many rumours as well.

And, if we see a cashless economy then the government should remove the limits on e-transaction.

Rate this: +51 -4

Ankur Vivek said: (Aug 18, 2019)  
Hello Everyone.

Any sort of Organisational, National or International work needs proper management to handle a large amount of all types of data, queries, etc. From this one is very important is the cash. A very large amount of transactions is frequent in any economy. Handling hard cash is a cumbersome task. So, this is eliminated only by replacing it with cashless methods, which are e-payments. Merits of the cashless economy are more and efficient as compared to its disadvantages. Let know the biggest merits - Anytime, Anywhere one can exchange his business transactions at the fingertips. There's no need to maintain an extra ledger for transactions history, Now in the cashless economy, this history is auto-generated.

Regardless of the quantity of amount you can transfer or get transferred in your bank account. The only problem it is a procedure. If every citizen is capable of doing so, it is like a time and money saver for all.

The only demerit is the chance of being a part of fraud or robbery. Cybercrime is a major problem in front of a completely cashless economy. If it is completely secure then it's like a god gift.

Rate this: +15 -12

Praveen Thakur said: (Aug 16, 2019)  
Hi Guys.

I am Praveen the topic given to us is merits and demerits of cashless economy. So guys, in my opinion, the merits of the cashless economy is much higher than demerits. Due to digitalization and automation now we are able to do transactions like electricity bill, water bill, mobile recharge, online shoping etc. Within a minute without going here and there. Hence it saves time as well as money.

According to environment aspects as we all know that climate change is a big issue for everyone due to deforestation so yes cashless economy reduces less use of paper and eventually deforestation. So we can say the cashless economy is ecofriendly.

Corruption will also reduce because there will be direct transaction no involvement of the third person.

If I talk about demerits then:

In rural areas, people are not that much aware of these schemes and they have some internet issues so they can't take that much advantage of these schemes.

Yes, there is a chance of hacking so you should be aware of it.

Rate this: +72 -4

Rushi said: (Aug 15, 2019)  
Hello, guys. There are too many merits an demerits of cashless economy in India.

PM, Narendra Modi started digital India it helps lots but something disadvantages are also there, first I discuss the merits. The main advantages of cashless economy is you have to don't take money with you anywhere with you. You can directly transaction with mobile or your card. You can pay the bill for electricity etc are pay directly with your home is your time is save and also free of travels. You can do at your home directly.

Rate this: +6 -12

Arijit said: (Aug 14, 2019)  

1. It will help us to reduce the black money from the society.
2. It will make the transaction easy.
3. We do not have to worry about the cash crunch in our economy.
4. We can indirectly save papers.


1. We can not make a cashless transaction without internet connectivity.

Rate this: +14 -4

Arpit Patel said: (Aug 11, 2019)  
Hello everyone.

Myself Arpit Patel.

In my point of view, the cashless economy has more benefits than disadvantages. It helps people to do a quick transfer of money to others which saves time. There is no problem with change, one can give any amount of money from 1 rupee to lakhs. This is also benefitting those who have a small business like vegetable sellers, panipuri and many others in keeping their money safe as they are directly adding to their bank account.

Also, there is less probability of corruption if the government is planning some scheme for the poor as they can transfer funds directly to their accounts instead of giving it to the intermediate officials.

Rate this: +19 -3

Geethu said: (Aug 10, 2019)  
Hello guys.

I am Anjali now the topic is about the merits and demerits of cashless economy. There will be merits as well as demerits in anything. First I want to tell you all about the merits which will have with the cashless economy is fewer chores i.e, thefts easy to access without carrying money. With this, anyone can buy anything from anywhere easily through online transactions. Soo, it is easy and with this cashless economy, there are lots of merits. Now demerit is all the people can not use it because illiterate and urban people are unable to access with lack of knowledge. It can be overcome through giving awareness about the cashless accessing etc. Then it will overcome so there will be no more demerits regarding this. Thank you, guys.

Rate this: +5 -8

Sai Omesh said: (Aug 10, 2019)  
Myself Sai Omesh.

My words from this topic, Nowadays everyone use the online paying apps with some issues, sometimes its better to tranfer a money throght mobiles, PC's etc.

Every employee deposit money through banks but now no need to go to bank.

Even banks aslo introduce their own apps to transfer a money.

Sometimes and some areas have no internet facilities to tranfer to others this is the main problem and aslo technical issues aslo arise sometimes.

Rate this: +10 -9

Shashank Khandelwal said: (Aug 10, 2019)  
In the era of digitalization and automation it is very necessary to grow with them. Cashless economy has numerous aspects. Let me add some of the merits:

1. Environmental friendly. With increasing population in the country like India it is very necessary to stable our paper use in order to not to harm nature. Which is somehow degraded due to cashless economy.

2. Monitoring is improved. Government or citizen doesn't have records if the transaction are in cash whereas in cashless each and every transaction is recorded.

3. The printing cost for the cash is more whereas in cashless this expense will be on hold, and thus economically beneficial.

4. Easy to handle:

Let's me introduce another dimension to this topic:.

1. Japan is a country with cashless based economy still the interest rate for there citizen is 0.04% only and its negative in some banks. So there are several aspects for the value of money if the economy will be cashless.

2. In the remote locations where network is still a issue it is not convenient.

There are several merits and demerits of the cashless economy but it weigh more in merits direction so I believe to have cashless economy.

Rate this: +14 -5

Mohit Kumawat said: (Aug 2, 2019)  
Hi everyone.

Myself Mohit Kumawat.

First of all, we need to understand what is the cashless economy. It is process through which transfer of money can be done by the online system at home without carrying real currency, no need of a pen, paper and our physical appearance at anywhere.

It has many merits as follows.

- there is no need to carry a lot of cash.
- it makes us to feel secure regarding cash anywhere.
-we can book a hotel, movie tickets, food order etc. And pay electricity bills and water bills easily in just a single minute without going Outside.
-it also supports to reduce corruption in a country like India where corruption is at peak level.
- it provides transparency in our work.

It has some demerits as follows.

-It is difficult to do online work for uneducated people mostly in rural areas.
-Sometimes transaction failed due to technical issues.
-Sometimes problems create relating to Internet speed and electricity.
-Sometimes account can be hacked by Hackers.

Rate this: +65 -7

Anomie said: (Jul 28, 2019)  
Good morning everyone. My views on cashless economy.

As a growing country we we need to be enhanced in every aspect one of the biggest achievement would be going cashless from reduction of the cutting trees to reduction of corruption although many of our country citizens does not know how to use these means terror funding can be reduced, theft of information with security implementation, no wastage of time in banks. ATMs and depending on others for doing a payment, one of the biggest merits would be environment would be protected and with a click, payment can be done starting with shopping to fund transfer with just one go.

Rate this: +16 -6

Afroza said: (Jul 27, 2019)  
Hi everyone.

There are merits and demerits as well. Let's come across to merits side first:

1) there will no more robbery in your houses.
2) anytime anywhere transactions can be done.
3) no need to stand in question and waste your time.
4) Able to transfer accurate money to the opponent. No more additional cost required.

Let's come to the demerit side:

Let's think about the uneducated people, senior citizens of our country, will they able to perform? No, right?

Thank you.

Rate this: +17 -4

Ekta said: (Jul 27, 2019)  
I would like to share my views on the Cashless Economy.

Nowadays everyone knows how to use a mobile phone. We can transfer money to anyone through phone, after purchasing anything we can pay money by card or we can do online. We don't have to carry huge amounts with us. Now, we can do anything through the internet it may be shopping or ordering food items and many more.

Rate this: +19 -5

Sanya Kasaudhan said: (Jul 19, 2019)  

* Avoids cutting down of trees hence preserves deforestation.
* People don't need to stand in a queue and wait as time is crucial for every person.
*Transaction time is less.
*No biasing, transparency in the transaction.
*No physical presence is needed.
*Transaction can be seen online no need of paper.
*No need to carry a huge amount of money every time.
*Corruption can be reduced.
*Theft is reduced.


*Rural people may not be able to use cashless memory.
*Network problem can arise.
*Refunding money can be difficult.

Rate this: +60 -9

Dileep Kumar said: (Jul 18, 2019)  
Good evening everyone present over here. As the topic under discussion is 'MERITS AND DEMERITS OF CASHLESS ECONOMY', I'd like to share my views on it.

The Cashless economy is a great relief for developing countries like INDIA. But the problem lies in achieving this as most of the people are unaware of using mobiles to date. The good thing is India is stepping forward but the biggest threat is about cybersecurity in which we are lacking behind. Online crimes are getting easier because of this cashless economy. The thing is, every coin has two sides. So what matters a lot is the cooperation of the citizens and what bothers lot is the lack of belief that the people have towards the onsite transfer of money.

Thank you.

Rate this: +32 -7

Omi said: (Jul 13, 2019)  
I first go with merits, In olden days, if we go outside means we want to take more money and now it is changed that if mobile is where we can use the apps and we can pay the bills without taking any hard cash.

Another thing nobody wants to wait in front of ATM's for taking Money and paying any bills.

Demerits, Due to that, if the people don't have phone or cards and if they don't know how to use the mobile in a rural area that people will face lot of problems so giving knowledge to the people's who are staying in rural areas and overcome the problem.

Rate this: +16 -5

Varun said: (Jul 12, 2019)  
The cashless economy has made the life of students, housewives, old age people with cell phone very easy. After demonetization by the government, a spike in merchants using online transaction platform has begun.

Now private Indian companies like PayTm, Mobiquik have flurished. This all factors boost the economy of India further simultaneously making payment easier for everyone without standing in queues for hours.

Rate this: +7 -5

Devansh said: (Jul 11, 2019)  
In my view, Cashless economy will be a great solution for many things.

1) for making notes paper is required which in turns causes the trees and green wealth reducing day by day. So digital money will, in turn, provide us the afforestation.

2) There are many people who make fake notes. On the digital state of the transaction, this problem can be solved.

3) Corruption will be almost eliminated because the banks and other agencies can keep an eye on all digital users.

4) When not corruption, we can have the fastest deploying nation.

Rate this: +42 -4

Ashmiha said: (Jul 1, 2019)  
Hello friends,

As the topic, today is "merits and demerits of the cashless economy", first of all, what is the cashless economy?

It is the way of using digital money instead of physical banknotes and coins.

I think this is a great initiative. Using digital money instead of notes is a SECURE option! we do not have to worry about our money to get stolen by a thief. Also, it is making life easier since no more we carrying huge bundles of notes to buy a fridge/AC/car etc.

Also in my case, there is a demerit too. The risk of getting HACKED! there are a lot of ways by which the money in digital form could be wiped off. Hence we should be aware and also make our family members aware of the ongoing threat.

Hence, I think the cashless economy is a better option if we use it in the right way and also learn to be safe over the internet.

Rate this: +52 -4

Panku said: (Jun 30, 2019)  
Hello friends!

As I think, cashless is the system with transparency, easiness and least corruption. As it can be helpful to avoid black money that's why India and most of the countries are shifting towards a cashless economy.


* It is quite easy. Cashless payments save our effort to carry money with us.
* In some situations whenever we forget to carry our wallets with us, it is a very good option for payment.
* Online transactions save time as well as paper so eco-friendly also.


* Those who don't know about cashless System find it a difficult one and those who don't want to adopt it, it affects their business.

Rate this: +19 -3

Baibhav said: (Jun 23, 2019)  
The meaning of cashless economy is a country with least corruption and these are linked vice versa.

If you ask how? Then I would say, cashless economy means transparency in the system and everywhere, and where there comes transparency, the corruption would no more find its way there.

Some facts that I would like to put up in India has 2% cashless economy whereas Singapore has 61%. If you compare the corruption level in Singapore and India it will surely reflect the reason why Singapore has the 61% economy to be cashless.

Besides other advantages, such as being real time, saving paper, saving money printing papers at RBI,

Saves time provides a full proof of the payment, the cashless economy is also suffering from achieving its target. Some of the reasons are, old people still find it satisfying paying cash. Also, vegetable vendors and other road shops who are mostly illiterate hardly know and hence they don't trust on these things.

Besides, due to some internet problem causing transaction done but not credited to others account also creats an atmosphere of dissatisfaction between customer and the shopkeeper.

Rate this: +27 -3

Pallavi Rajput said: (Jun 21, 2019)  
Cashless Economy means using digital currency in our life especially day to day life. The cashless economy moves our economy in the growing phase. Everything has pron and cons. So here are some merits and demerits of cashless economy-.


* Reducing the problem of cash.
* Saving trees because it reduces paper use.
* Saving time.
* Easy to use whenever people feels its requirements.
* Transparency.
* Cashback offer increases excitement among people.


* Illiterate and poor people finds difficulty to use.
* Need internet access.

Rate this: +28 -3

Swathi said: (Jun 21, 2019)  
Hi everyone.

On behalf of the topic cashless economy has more advantages compared to disadvantages.

Firstly we can discuss the advantages.

1. The main advantage is while shopping. We need not want to carry a huge amount.
You can do the online payment by paytm or google pay etc.

2. Next, you can do more work in less time or on the spot.

3. You can make the online transaction for urgent purposes.

That is you need not go to preferred atm or bank.

Rate this: +10 -4

Abhi said: (Jun 20, 2019)  
Hi everyone.

You know what does cashless economy means that without cash you do your transaction online. When there is an introduction of an innovative idea, the idea has merits and demerits. If we eradicate that demerits and convert that demerit into merit, it will be a game changer in the economy. There is so many advantages in a cashless economy, firstly we discuss that:

-We do more work in less time by going through an online payment method that we don't go to the bank and ATM.

-In sitting home, we can make the shopping, send the money to another bank account etc.

-In previous days, then go to shopping we take more cash to do shopping but now in the era of the cashless economy, there is no need to take that huge money if you have online payment method like google pay, paytm etc.

-Through this, those who are not paying the tax, they definitely pay the tax as there is no offline mode cash, it is only through online mode.

-It will solve the problem 'Black Money'.

-As we do our transaction online, there is no need for printing the money and transporting, so we save money.

The demerits are:

-We are not well known about the security of money in an online transaction.

-Only the educated people are doing as of fear of irresponsible transaction of money in uneducated people.

There are merits and demerits but this is idea is a very innovative idea that would be a game changer in the case of our economy. My opinion is that we support cashless transaction so that we can easily in less time do our transaction. If we teach the people those who are not well known especially rural people. If we teaching them accordingly, they can also use that like they use Facebook, WhatsApp etc.

Rate this: +17 -2

Mahesh said: (Jun 19, 2019)  

1. Cashless economy is not consume so much time so within the fraction of second we can transfer the money to anyone through UPI transaction so we don't have to stand in a long que of bank for withdrawal of money.

2. A most important benefit is that the transparency between the two parties is important so by the cashless economy the transparency is 100 per cent.

3. There is never a fear of money stolen.

4. The use of paper will be reduced.


1. Only useful to those who have a Android mobile or laptop or computer.
2. There is fear of hacking.
3. Illiterate people don't know how to use.

At last, I want to say that the right now our country is considered as a developing country and the cashless economy is one of the step to make our country from developing to a developed country. And for demerits, there also have a solution for hacking cybersecurity is there and by providing proper training to illiterate people after training they can also capable to use Android mobile. So, at last, we have to go for a cashless economy because to change our self and our system with the time it is nature. It doesn't change our system then we will be considered as old lack of technology even though we have technologies.

Rate this: +11 -2

Khushi said: (Jun 19, 2019)  
Good morning one and all who are participating here. I am glad that I have got an opportunity to say something on this topic which play an important role in developing of any country and we know that our country still is developing so we people must know about it. First, the question comes in our mind that what is the cashless economy? the main objective of this cashless economy is to curb black money and eliminate the circulation of fake currency in India economy and all financial transaction are executed electronically rather than using banknotes. And this initiative is taken by our honourable prime minister Narendra Modi on 8th May 2016. Demonetisation is also another factor which helps to reduce corruption in India.

Here are merit and demerit of its:


1. Electronic payment help businessman to boost their customer.

2. Making online payment is handy and it will lead to a slim wallet. We do not need to carry cash.

3. As we know a majority of election funding is done through cash for advertisement etc but if payment is mandatory through online then it is impossible for political parties to spend black money.

4. It makes a true picture of democracy.

5. Through online payment one can see their transaction at any time anywhere there is no restriction.


1. For online transaction, everyone should be educated but in urban areas, there is no proper facility for education. They do not know how to use it so it is very difficult for them.

2. The second thing is people should aware of hackers and cyber theft otherwise anyone can be robbed anywhere.

3. There are still some places where cash is allowed. The reason behind is no proper facility of electricity, internet.

Rate this: +13 -7

Sruthi said: (Jun 15, 2019)  
Good morning to one & all.

Today our group discussion topic is "Merits & demerits of cashless economy". We all know about the concept of cashless economy but I don't know why we won't follow that procedure. Although it is very simple and easy to use. Especially in our country we plan to make innovative ideas but we won't follow them that is the main drawback.

Merits are:

*We can pay our bills at any time from anywhere with complete security.
*No need to withdraw our money from any bank or ATM.
*No chance of money stolen or robbery.
*We can save a lot of time by sitting in the same place.
*The main advantage is we can pay or get each and every rupee so that no money will be wasted.

Demerits are:

*There will not be any disadvantages if we take some safety measures while doing payment through online.
*Of course there may be a chance of getting hacked from the website or from the anonymous people so we should not share our personal data to anybody.
*If anyone is performing online payment for the first time please take some precautions from an experienced one.
*While doing online payment please check that perticular website is authorised or not.

Rate this: +11 -4

Sujit said: (Jun 14, 2019)  
Hi everyone,

We all know about the cashless economy but I want to ping to in our country most of the people lives in the village and they don't know how to use it? So first, we need to educate them about the cashless economy.

So, I want to share some merits and demerits.


1. In a cashless economy, the transactions are transparent so chances of corruption will decrease.
2. Easy to the transaction or transfer the money and time-saving process and also safe.
3. Don't need to state in question in front of ATM or bank for the cash.
4. It is safe for the Thief, sometimes we heard the Thief stole the bag that has much cash.


1. It depends on electronic gadgets that help for the transactions if gadgets are discharged at that time you think you have nothing.
2. Chances of hacking devices.

Rate this: +6 -5

Kunal Rai said: (Jun 13, 2019)  
The Cashless economy is the most powerful weapon in the against of corruption, deforestation and illiterate person etc. Having been used cashless economy the corruption may be overcome by which the cash will be a running condition. Everyone can easily take the money and save our economy in a decimal nothing to be intermediate corrupt person, it will help to save our economy, time, physical labour and life (with the help of deforestation). It will also help the people save the life of the environment and help a person to skill development by which our country GDP will be increased. Now we conclude that cashless economy will play a predominant role in the growth of the economy in our country but due to some technical issue and somewhat rural areas are play less useful.

Rate this: +7 -1

Siri said: (Jun 2, 2019)  
I believe the cashless economy has both merits and demerits. First, coming to merits,

1. Cashless economy is risk-free. Anyone can steal your physical money. With the advent of a cashless economy, even if someone steals your credit/debit card, you can block the card and your money is safe.

2. If everything is cashless, there is no need to print physical money.

3. Tax payment can't be skipped. With the advancement of technology, especially with data analytics, the Government can have an authentic database of transactions done by citizens. If every transaction is cashless, there is no chance to skip tax payment, subsequently reducing the black money.

4. With just a click, you can transfer funds. It saves time and we longer need to wait in long question.


1. 74% is the literacy rate of India. It means 74 among 100 can read and write. Digital literacy is even lesser in India. Before introducing a cashless economy, the government should teach the people how to go cashless through campaigns.

2. Internet connectivity is poor in rural areas. We live in a nation where 60% area is rural. It is important to improve the connectivity prior to going cashless.

3. Not everyone can afford an android. Even though 84 out of 100 in India have mobile phones, the government should provide subsidies for androids.

4. People in India are connected to the usage of physical money. Initially, there can be set back and people may reject the idea of cashless economy.

Rate this: +75 -7

Sridhar said: (May 31, 2019)  
There are both merit and demerit found in cashless economy. Anyone, can't take money with everywhere and can't send or receive money from any other but by the help of cashless economy, it took a few minutes to resolve the problem but in various case it is harmful to mankind due to increase in the cashless transaction also increase in cybercrime. Instantly he removed money from our bank account so it is also advantage and disadvantage for us.

Rate this: +13 -1

Dheeraj said: (May 28, 2019)  
Cashless economy is one of the better solutions for finding the black money, by using cashless economy no one need to carry a lot of money with them, atm cards will be we sufficient or even we can pay through online transactions by using Android apps such as phonepe and paytm, etc. At the same time we can't give any guarantee that data of a particular person will be secure, authentication of android apps which are useful for transactions must increase.

Rate this: +14 -2

Dev Malik said: (May 27, 2019)  
According to my point of view cashless economy has both merits as well as demerits.


1. As it can reduce the cost of printing and transportation of the cash.

2. The most important thing is that people will pay the tax as most of the people on our country didn't pay tax so by doing the economy cashless all the transactions will be through banks and other financial institutions which will help the government also.

3In a cashless economy it is easier to track the black money and illicit transactions, unlike cash-based economy in which money does not come into the banking system. In the case of digital transactions, it is easy to track and monitor suspicious transactions as all the records are available with the banks.


1. In our country more than 90 per cent there are rural people so first and the foremost thing is to change the concepts of those people then the only cashless economy mission can take a boom.

2. Most of the people in the informal sector are daily wage workers so they depend on the cash only.

3. In India, people believe less to make online transactions because of malpractices such as phishing, hacking, etc.

At last, I will conclude that please if we want our country to do progress people have to believe government and government also not to break the belief of people by bringing the best technology in our country as our country is known for the best technology Center.

Thanks a lot.

Rate this: +26 -2

Geetha said: (May 20, 2019)  
The cashless economy has both merits and demerits.

The merits is it lead our country to a digital world.
By using the Cashless transaction.
We can come to know our balance easily in our account by just sitting in one place.
Safe transaction for huge business dealings.


If one letter or number goes wrong the amount is credited to someone's account. Which is totally unsafe.

For uneducated people, hackers can easily withhold their account.

Rate this: +10 -6

Vivek Kumar Singh said: (May 19, 2019)  
In my opinion, the cashless economy is beneficial for us it saves our time. Before this, we have to withdraw our money to do shopping or buy anything. But after this, we can pay anywhere using our mobile app like phone pe or Google pay. When we pay using this app then we also got some cash back.

Apart from merits, there is some demerit of this technology like our data is not safe. Some person misuses our data to steal our money.

Rate this: +5 -0

Rita said: (May 16, 2019)  
Cashless Economy is a big change. So change takes time to accept. So, in between of acceptance. There are certain merits as well as demerits as coins having two sides. Let's come towards firstly positive i.e.merits. Cashless economy helps to do transactions in less time. We don't need to carry wallet everywhere whereas mobile is wallet nowdays due to cashless economy.

In Demerits, Poor people are not aware of cashless economy. So, a certain program will help to spread awareness to them.

Rate this: +9 -3

Deep said: (May 12, 2019)  
Today's topic for group discussion is merits and demerits cashless economy.

First of all, India is not ready for a cashless economy. Though India is becoming a digitally strong country day by day it will take some time for proper implementation of the cashless economy. Due to the lack of knowledge of different individuals, it is not successful in todays time. Many of the village areas people don't even have a smartphone so they can't do online transactions. Even though they have it, due to the lack of knowledge they are afraid to do it as they prefer old ways of money transaction. So we need to educate them first about its advantages and how easy it is to do as it will help us to save time as well as hardships. It can be done sitting at home or anywhere instead of meeting the dealer or someone else to give them cash. It also helps to reduce documentation of money transfer as we can know it from the history of a paytment app like google pay, Bhim, paytm etc. We even get discounts by doing the payment online so it is very useful but we should learn its necessity and how useful it can be in our life.

Rate this: +18 -2

Piyush Priyadarshi said: (May 9, 2019)  
I feel the cashless economy had both the merits and demerits. But though I genuinely feel that in a long run, it will help to boost up our economy and somehow or the other, it will go to replace the system of the third window, i.e "corruption".

Rate this: +8 -7

Ujjawal Raj said: (May 1, 2019)  
India is not totally ready to be cashless.

There are numbers of people in India who are uneducated and some of them only know how to operate a smartphone but when they would do online transactions, they can be a victim of cybercrime.

India shouldn't be cashless before being totally educated and aware of such crimes.

Rate this: +16 -6

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