Merits and Demerits of Cashless Economy

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Mahesh said: (Oct 21, 2020)  
Following are the Merits and Demerits associated with a Cashless Economy:

1) It saves our time for paying off the various bills through one click.
2) It reduces the risk of robbing because you won't carry physical cash.

1) Imagine if you are travelling with your friends in hilly areas or near the village area and all of them having money in their Digital wallet only and there is a possibility of the network issue in that area because of this you won't be able to transfer money.

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Angel said: (Oct 16, 2020)  
It's useful for time management. We can pay any bills or payments within a second. And also we reduce the robbering and it's also the solution of money losing problem.

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Sarika Mishra said: (Oct 15, 2020)  
Cashless economy we already know this renowned concept in earlier year when pm of India announced demonestisation in that time we step ahead with cashless transaction and with time phase we are habitual to it now wherever we go we prefer highly on cashless transaction whether to pay for shopping, electricity bill, tution fee etc which are easy to use and time saving. This new concept is best known for tracking illegal money which was not possible earlier days with lots of benefits of cashless economy there are lots of demerits like with advent of cashless transaction there is also increase in cyber crimes at peak level.

Rate this: +4 -0

Anu Mohanan said: (Oct 12, 2020)  
N 8th November 2016, our honourable prime minister of India, Shri Narendra Modi made an announcement that the 500 and 1000 rupee notes would be banned. With this announcement, 86% of currency notes in India were just mere pieces of paper. The main objective was to curb black money and eliminate the circulation of fake currency in the Indian economy. India is a cash-centric economy where less than 5% of all transactions happen by money. But with demonetization there resulted in a currency crunch and many people started making online payments. Thus Demonetization took an unprecedented turn of trying to make India move towards a cashless economy. Cashless transaction means using debit, credit cards, internet banking, e-wallets for making payments instead of paying in hard cash. The cashless economy has its own pros and cons.

Merits of cashless economy:

People to boost their customer base even in far of geographic locations and hence will result in enhanced business.

The real estate prices will come down because of the curb on black money, as most of the black money is invested in Real estates.

Electronic payments will improve transparency and accountability. Most of the cashless societies are corrupt-free as all the transactions are being traced, are visible and are transparent.

Making online payments are handy and it will lead to slim wallets as people need not carry cash.

Majority of election funding is done through Black money. Cashless transactions will make it impossible for political parties to spend thousands of crores of unaccounted money on elections. Buying votes by giving cash will also come to an end. True democracy will come into the picture.

Amount of tax collected will also increase, and it can be spent for the betterment of poor and underprivileged people.

Generation of counterfeit currency will be reduced and hence terrorism can be prevented.

It will reduce pickpocketing and robbery of cash in crowded locations.

Through online payment, one can view the history of their expenses and plan their budget in a smart way.

Printing costs of notes and maintenance itself is accounting to 27 billion; this can be removed by electronic payments as there would be no need of paper currency.

De-merits of Cashless economy:.

Many of the rural people and even some urbanites still do not have a functional bank account in order to make online payments.

A majority of India's population is in rural locations, and there are no proper internet facilities available to make online payments.

People in rural areas are not educated about the digital mode of payments.

There are still some places which take cash and do not accept cards. Making a purchase at such locations with card becomes difficult. Small retailers in India still deal only in cash as they cannot afford to invest in digital infrastructure.

Cash is not under your control, you will try to spend excessively.

If you lose your debit/credit card, it takes some time to get a new one.

Hacking and cyber theft are challenging problems which can be caused by online transactions. Cyber Security measures have to be brought in place to prevent money from going into wrong hands.

Even in big cities, sometimes online transactions cannot be made because of poor internet facilities.

In a country like India where cash is more pervasive, it requires some time for India to take a transition towards Cashless economy. Meanwhile, the government of India has to address many challenges to meet the objectives of the cashless economy. The government has to provide internet facilities and financial literacy to all its people. While a cashless economy is still not here, the move towards less cash economy is on the move.

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Akash said: (Oct 7, 2020)  
Hello everyone,

This helps to curb corruption and the flow of black money which results in an increase of economic growth.

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Sonu said: (Oct 6, 2020)  
I think merits of cashless economy is that we don't have to keep cash with us which will reduce chances of robbery, we can do transaction easily with a proper record of the payment, it will help to reduce corruption, if we have to transfer money to other countries then it is also easy, because of cashless economy people have to open a bank account which will be beneficial for them.

The demerits of cashless economy is chances are there that bank account can be hacked which is risky, and some people might not understand how to use the online money transfer.

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Ajit Inaniyan said: (Sep 22, 2020)  
Hello everyone,

The Cashless economy means an economy or market without cash or cash flow in the market. And use some alternative methods for transaction of money. So it means to use an online platform like a Paytm, phonepe and google pay etc. To transaction of money. It have both pros and cons.

The cashless economy provides us more viable and flexible system of money transaction. Now we don't need to stand in long lines in banks, so it saves both time and energy of a person. By using online methods all the things can be done by using mobile, so now we don't need to carry cash with us always. Now just by one click, we can complete all our essential task at any palace. It also decreases the corruption in our country, because now any many government schemes, people are getting their money directly in their account, rather than to take less money from middle people in the system. Digital platform make peoples life more flexible and easier.

Every good thing has some default, so here are also some issue to implement this scheme in our country where most of the people live in rural areas. And people are not aware of the digital or online transaction. We need to aware those people about frauds making by some unsocial people. And there is also the chance of hacking in the online system. So we need to ensure our security system more robust and viable to use these online platforms.

So in the final, I would like to say that it is good to adopt cashless economy for our country, so that we can complete our all task without any difficulty and with save of time and energy. What we need is just some efforts to aware people about the cashless economy and governments effort towards the security of its citizen's account.

Thank you.

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Anand Kumar said: (Sep 17, 2020)  
Every situation has two sides Merits & Demerits. First of all, I want to say about Merits.

That is if we are handling cashless money means we can more safe from any kind of Roberry/Save time.

But sometime that will be a problem for us just like suppose we are paying money to others by using any other application/internet banking so at that time some technical issue it can be stopped. Just down of bank server. So at that time you unable to pay to others.

So, in my point of view, in this topic here some demerits are also there.

Rate this: +14 -13

Poonam Lega said: (Sep 12, 2020)  
Hello everyone.

So here I got an opportunity to give my points regarding the cashless economy,

I would like to add merits to the topic as this will help the country:

The cashless economy will bring out the fear of theft and dangerous incident to life eg. Robarrey etc.

*Clear and easy payments with the benefits of cashback and other coupons.
*Proper records of payments can be possible.
*Chances of corruption get reduced.
*Distance payment can be done easily.
*No harm to currency,
*Fast way of payment,
*Trustable except in case of hacking or server error.

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Himanshu said: (Sep 11, 2020)  
Hello friends.

I am Himanshu.

As this topic merit and demerit of the cashless economy.

In my point of view, Cashless economy is a better option for the citizens by cashless economy we can use our 100 per cent of cash of the account.

As well as we don't have a tension of stealing and losing of money.

In this pandemic time, we can use UPI and avoid touching.

We don't' have to need the carrying of the money by the cashless economy.

And we can pay easily they gave us many kind of profit.

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Surekha said: (Sep 9, 2020)  
I think cashless economy is great.

We don't have search of changes. We don't have cut down trees. Transaction can be done very easily and accurately.

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Adarsh said: (Sep 9, 2020)  
Hello everyone,

Today's topic is very much interesting and relevant to the economy of India. A cashless economy means we are doing a transaction of money with the help of the internet or different type of platforms. As we all know that every coin has 2 sides, so a cashless economy also has some merits and demerits accordingly. So, I am going to talk about both things.


1) With the help of a cashless economy, we have no need to carry money in our pockets. Because sometimes carry a big amount of money can be harmful to us.

2) A cashless economy gives you a facility of transparent and reliable, payment of hotel bills, restaurant bills, etc.

3) You have no need to go in the long queue of banks, with the help of Paytm, google pay, phone pay you can do any type of transaction of money which is a very easy and helpful thing.

4) "Time is the most prestigious thing in everyone's life' so a cashless economy saves our time and energy.

5) Our honourable PM Mr. Modi always exclaimed on Digitalization and cashless economy because by this we can stop the black money and corrupted people who have lots of black money in their accounts.


1) Cashless is a good technique for us to save time, energy, and efforts, but on the other side India right now is a list of developing countries, a lot of people in India don't have a smartphone, the best internet facility even electricity also. So they can believe in his technology.

2) With the development in technology simultaneously no. Of hackers and thieves also increases day by day, they can hack your bank account in a single second if you are not aware of the precautions.

3) After the 73 years of freedom in India, Village citizens believe only in cash because they aren't aware of the cashless economy. They have no bank account, So it is the duty of govt that they have to arrange campaigns in the remote and backward areas of India.

So, although there are lots of merits and demerits of the cashless economy, eventually I strongly believe in a cashless economy because by this I am utilizing my save time in different activities.

Thank you!

Rate this: +45 -1

Monika Moo said: (Sep 7, 2020)  
Nowadays everyone is going for online payments, even a small grocery shop has services, by which customer can pay them online which have many benefits but one important benefit is that people don't have to carry cash with them. And also there are many more merits of cashless payments like you get extra coupons or cash backs when you do a payment online. But again everything has its merits and demerits, the biggest demerit is the network availability/internet connection, your payment can get stuck and sometimes withdraw has been done from your account but the amount does not reach the other person account. Which actually makes us more worried about it. Second important thing is that online payments are not for larger transactions, there's a fixed limit for your daily transactions. But I personally do prefer cashless payments, which makes me less worried about my cash as I don't have to carry much with me. And sometimes cash backs make us happy, right?

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Aashlesha said: (Sep 5, 2020)  
Well, there are merits as well as Demerits to every change which is brought about.

An interesting and possible "merit" here is that the "demerits" of Cashless economy, which are low-quality internet and electricity and less awareness among the people, IF attempted to rectify, can fast forward the development of this country. People living in rural areas will be forced out of their nutshells and seeking good education and facilities will become more important for them. This could lead the government to prioritise their needs, collaterally igniting sparks of innovation and creativity in a lot of individuals, thereby plummeting the overall potential of this country to extremely high levels. This innovation can take a different and greater form even after these issues have been sorted.

However, there are some environmental concerns regarding radio waves and their impact on nature. Some studies have stated that an out of control presence of radio waves can affect human life and make them highly susceptible to diseases like cancer.

A simultaneous preparation to control this situation and not let it get out of hand could take not just this country, but the whole mankind to an environment-friendly, at the same time technologically advanced, sustenance.

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Anushka Lohia said: (Sep 1, 2020)  
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.

Good evening everyone.

Today we are going to discuss on the topic "cashless economy" which is a 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.


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Deeksha Sharma said: (Aug 27, 2020)  
Cashless economy is the major and important topic in today's era. As it is really beneficial for all of us to discuss it.

It has many merits and demerits.

- As during the pandemic time, it really helpful as the exchange of currency notes can also increase the risk of disease transfer.

- Cashless also helps the easy transfer of money from one place to another.

It has lots of merits but has demerits also.

As it requires proper knowledge of using technology, as it is difficult for poor or illiterate people to use. Even in the remote areas, it is difficult to use due to improper internet connection and also leads to an increase in digital crime rate.

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Div said: (Aug 27, 2020)  
According to me, the cashless economy is one of the major steps for India to become a developed country.


Going cashless makes customer to make payment in a flexible way, the technology is so advanced that people started using payments online for many purposes like education, and education is also completely digitalized every person is able to access the education through payment online and it has become a root of many dreams.


Especially in villages, people not having any idea about technology can face problems in this which can also lead to robbery or theft sometimes.

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Lalatendu Nayak said: (Aug 26, 2020)  
Hi everyone my name is Lalatendu Nayak.

This topic is very much important nowadays.

Merits: Today cashless transaction is most important for every people and various companies because now a day people can't take money on hand on safe this time every business take some personal app to make money online.


Nowadays a man can't take money on hand and go to market this is very harmful and the transaction can do online it's very much dangerous now a day because hacker is hack data and every personal data. This is very harmful.

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Varshini said: (Aug 24, 2020)  
Hi everyone,

Thanks for giving me this opportunity to share my opinion. Cashless economy is one of the important tools for every developing country.

It reduces time and makes transactions safe. It decreases theft. It makes the world into digitalization.

Still, some rural people are not aware of digitalization. The data may theft by hackers.

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Himani Sharma said: (Aug 22, 2020)  
In my opinion, cashless economy will be really very good step for India. There are so many benefits of this like, it takes less time, transparency is there, it make the life easy of those people who know this things well.

But we should also not forget this point that there are so many places and people in India who don't get electricity properly, specially in village parts and small towns etc. If those are not getting proper electricity, how can we supposed that those people will use digital gazets to pay or receive money.

So, I think we need to first work on this direction otherwise there will be good come out of it.

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Yukti said: (Aug 21, 2020)  
Cashless economy is an economy in which digital transactions are included. It has mobile banking, useof debit card or credit card. It focuses on the digital transactions.

Merits of cashless economy:

1. If we are using digital transactions for our payments then we will not carry cash in our pocket. Thus, it will reduce theft.

2. The digital transactions has increased the flow of money in the market and therefore it has increased the market efficiency.

3. Cashless transactions are transparent in nature and we can keep record of all the transactions.

4. People can pay their bills online and there is no need to go bank so, there will be no wastage of time.

Disadvantages of cashless economy:

1. Digital transactions are attacked by hackers and data thefs. They can hack your transactions and thus, we can loose our money.

2. India is a vast country and there are so many rural people who are not aware of these digital payments and transactions. So, it is hard to reach every person. Most people are not able to use different online websites and applications.

3. Cashless economy needs good internet connection which is not there in the every part of the country. Strong internet connections which can reach to a larger number of people at different urban and rural areas will reduce this problem.

Rate this: +14 -1

Amani said: (Aug 14, 2020)  
Hi everyone, I support for the cashless economy because it has more merits.

Merits :

1. No need to go for current bill offices, dish bill office .. Etc we can pay from the place where we are within seconds. So, there will be no wastage of time like going and standing in queues.

2. Transparency in transaction prevents blank money.
3. Most services like e-ticket booking for buses and other transport services, booking for hotels. Etc all these makes it very flexible for people and convenient too.


1. These are helpful for educated people and it causes difficulties for uneducated people because they don't any to use smartphones.

2. These make it difficult for people who do not have smartphone-like village people.

We cannot make all or completely online or cash less economy.

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Alpha Rajeswari said: (Aug 11, 2020)  
Cashless economy is an economic system where a small amount of cash is used in transactions. Cashless economy is based on transactions made by credit cards, debit cards, wallets or digital modes.

Why a cashless society?

* To avoid Black money transactions.
* Avoid time-consuming.
* To avoid the risk.
* Easy to handle.
* Environment friendly.
* Helps to increase security.
* Helps to reduce illegal businesses.
* Helps to effective transactions.
* Avoid criminal activities.

* Unable to access because of large-scale illiteracy.
* Unavailability of the internet in the large portion of the country.
* Lack of security of data stored on due to low cybersecurity measures.
* Unavailability of plastic money with people of rural area.
* Lack of adequate infrastructure and knowledge.

Rate this: +17 -3

Sanjeeda Pathan said: (Aug 6, 2020)  
Hi everyone,

Our today's topic is "Merits and Demerits of Cashless Economy" which is very broad term in itself.

So, in my point of view, pros & cons totally depend on us, if we have a better/complete knowledge of cashless economy then there will be no cons right!

Do you think around 50%-60% population which is educated, they use smartphones and they know how to use the internet, all they aware of cybercrime or digital robbery?

Before discussing merits and demerits I think awareness is a must.

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Sadhana said: (Aug 4, 2020)  
Hello everyone. Today Our topic is "merits and Demerits of the cashless economy". I completely believe we got to the situation now like we can't separate ourselves from gadgets around us. Just with them, we are completely restricting ourselves to the most comfort zone. One of the best advantages of them is online payments. It has reduced human effort drastically just by clicking mobile phone from where ever we are. Earlier it was very hectic to stand in large queues just to pay some bills like ticket booking, home debits etc. Which is not just but a wastage of time. People now are preferring online transactions over offline payments. It saves a lot of time. Not only payments but these digital life has also given employment to a number of people directly or indirectly. The government also taking initiative to this cashless economy by conducting some digital campaigns, taking decisions like demonetisation, encouraging it by starting programs like digital India. Like a coin has two sides. It also has some demerits. Most of the people including literates are becoming the cyberthreat victims as they were not fully aware of this problem. Hackers are just attracting people by sending some spam msgs. Unknowingly people losing their money just with one click. Most of the illiterate people disclosing their important bank details. This is one of the biggest disadvantages. And we all can't afford to have internet connection all the times. So the government has to take some measurements towards these problems and promote people to use cashless transactions.

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Rajat Jain said: (Jul 26, 2020)  
Hi Everyone!

We have a great topic to debate "Merits and Demerits of Cashless Economy".

Well, I strongly support cashless Indian economy knowing that a large no. Of people are against of it and they're right and they have the valid points too like in India where 6.7% population is below poverty than how can they afford smartphones and net recharge; India where 26% people are not educated then how can they use the online platform, India where only 55% population is using the internet; Cybersecurity risk is also high, most of the literate population also don't know the cyber threats and many more still I'm supporting this campaign because this is not the single-day campaign. Government is not converting a cash-based economy to a cashless economy in one day. It will take years so just relax but Yes now India is not ready to go for complete cashless Economy.

Undoubtedly government is working over it and has taken various measures towards it like Digital India campaign, Demonetisation, promoting digital payment, providing a license to payment banks, etc.

Rate this: +20 -4

Rajat Jain said: (Jul 25, 2020)  
Hi Everyone!

We have a great topic to debate "Merits and Demerits of Cashless Economy".

Well I strongly support cashless Indian economy knowing that a large no. Of people are against of it and they're right and they have the valid points too like in India where 6.7% population is below poverty than how can they afford smartphones and net recharge; India where 26% people are not educated then how can they use the online platform, India where only 55% population is using the internet; Cybersecurity risk is also high, most of the literate population also don't know the cyber threats and many more still I'm supporting this campaign because this is not the single-day campaign. Government is not converting a cash-based economy to cashless economy in one day. It will take months and years so just relax but Yes now India is not ready to go for complete cashless Economy.

Now let's understand the Merits and Demerits.

1: This campaign will be successful only when the literacy rate is 100% but in India only 74% are educated.
2: People must be able to afford smartphones as well as net recharge and Talktime too where in India 7% population is below poverty.
3: A huge money will be spent to make people aware, educated and making them above poverty.
4: Its Demerits for those who are conventional or orthodox or resist to change.


1: It will save time and money in today's world time is more important than money.
2: There will be transparency in the transactions so better will be the monitoring.
3: No need to stand in a long queue for the bill payments or tickets booking etc.
4: Better control over the black money, hawala transactions, smuggling, crimes and money laundering.
5: Will help in economic development.
6: It will rein over the corruption which is the root of black money.
7: People can carry a huge amount of money without any fear.
8: No need to carry chiller or coins.
9: Any amount can be transferred from one place to another within seconds.
10: Through online payments, we can track our expenses and can control our expenses and we can also download our bank statement.

So basically there are thousands of the benefits of Cashless Economy.

Thank you so much for devoting your time to read it.

Rate this: +14 -2

Manii R Singh Dahiya said: (Jul 22, 2020)  
I want to say that India is a developing country. There every type of people live. Some of them who better know how to use a smartphone and how to secure to your account. But most of the people who live in rural areas and they don't know how to use a smartphone and how to secure your account. Because they have no idea about hacking. They have less access to the Internet. So, I have partially support to a cashless economy.

Rate this: +9 -4

Vs King said: (Jul 20, 2020)  
I want to say that cashless economy is something that no need of single rupees of money for transaction all the transaction will do through online this is good very good at its merits of this cashless economy age we get much easy to get any transaction the person is sitting at home we can transfer any money easily but I mean demerits has come have a person who has low knowledge of transaction or they don't know how to use smartphones they will get very difficulties in a transaction there are many people who do not remember even phone number how they can remember the password merits goes for only who know to how to use a smartphone how to know transaction.

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Amrutha Jose said: (Jul 18, 2020)  
Major benefits of cashless economy are following.

1. Make transactions efficient and transparent.
2. One can transfer money from anywhere and anytime.
3. Facilitates online shopping and online education.
4. Helps to remove black money from the Indian economy.
5. Removes the middleman and help to deposit money directly into construction workers and farmer account.

Besides benefits, the cashless economy has some demerits.

1. Hackings are increasing nowadays causing threats to money and personal information of people.

2. People who do not have internet access ability are excluded from benefits offered by cashless economy.

3. A large segment of Indian people doesn't have knowledge of the digital transaction.

Cashless economy help for the development of the country. But the government should first educate rural people on how to do the digital transaction. Otherwise, they don't get benefits offered by digital economy.

Rate this: +10 -0

Aman Thakur said: (Jul 18, 2020)  

1. The biggest advantage of cashless economy is "it makes our economic lives simple and fast. At the time when we don't have smartphones, people have to go to the banks, stand in a queue, fill a form, only to deposit some money. Now we can perform these works in minutes.

2. You can get Bank transaction records more frequently.

3. We can not withdraw amounts (e.g- 330,450,211) from ATMs, but it is possible with an online transaction.


1. Most peoples of India are illiterate, or unable to handle a smartphone. That is why they are unable to get the benefits of a cashless system.

2. Chances of cybercrimes increases.

Those peoples can be easily trapped by the cybercriminals, who don't know much about the world of smartphones.

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Vikas said: (Jul 17, 2020)  
I am not supporting cashless economy because all types of raw material which is base of industries are purchase from villages Farmer who are not much educated, so. This will become a major problem for them, they don't have even smartphone.

Thank you.

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Kshitij Gadge said: (Jul 16, 2020)  

1. Digital Economy is a boon for India's economy with a view that it makes transactions more efficient and transparent.

2. In the world of Globalisation, Adaptability to the digital world brings new opportunities for startups and technological efficacy.

3. Subscribing to online courses via cashless transaction brings up-gradation in knowledge and skills at any corner of the world.

4. Long-distance money redressals through smartphone is another merit of cashless economy.

5. In Remote areas, with no sign of ATM's or Bank's, the cashless economy is a lifeline.

6. Even a heavy amount of transactions are made possible through instant bank verification, which makes the process more secured enough.


1. Cashless economy is a curse for people having zero understanding about digital world especially Rural uneducated class.

2. The factor of Security is a major deal when performing cashless transactions, cases of fraud and bribery may arise.

3. Practically, Not everyone carries smartphone today, thus this brings an urgency for cash-based monopoly.

4. Govt. Of India's plan to digitise every corner of the nation is still in the long run unless every citizen is made aware about the fundamentals of Digital economy.

5. Direct Bank to Bank transfers via phones makes compulsory for Banks to scrutinize their privacy policy and uphold the sense of confidence among people to use cashless economy without fear.

Rate this: +5 -2

Bablu Rana said: (Jul 16, 2020)  
In this digital world, everything is available in the form of the online, economy so the cashless economy has many merits and demerits too.


1) one can transfer money any time from anywhere.

2) No chances that anyone could hold black money.

3) In a cashless economy all the money stored either in the bank or invested in stock, so it always gives some amount of returns.


1) As India is a developing country and most of the people live in a rural area, everyone doesn't have access to the internet and can't be offered any device.

2) Most people don't know how to operate mobile or computer, so there will always be a security concern.

3) Hacker are at the pick nowadays, and they can steal money from people who don't have much idea about security.

Lastly, Not now but in future India have to go with a cashless economy, building strong security, providing people computer awareness.

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Raj Kiran said: (Jul 3, 2020)  
Merit :

Cashless Economy is very useful For Indian Economic because is Reduce the chance of black money. If all transactions Shall online Either big or small have Proper Record.

Demerit :

Now Many people haven't Smart phone and proper knowledge of the online transaction, the case of fraud call is increasing Day by day due to lack of proper knowledge. So At the moment Everything shouldn't Online.

We support the Cashless System because it is very helpful for everybody and we should aware of its importance.

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Aayushi Singhai said: (Jun 11, 2020)  
Cashless economy boosted by Demonetization.

*Cost Reduction.
Reducing cost of printing of cash.
Reducing cost of storing of cash.
Reducing cost of transportation of cash.
*Risk reduction.
*Efficient and convenient.
*Increased transparency.

On the surface, cashlessness seems benign, but when you reflect on it, the insidious racism that underlies a cashless business model becomes clear.

*The major drawback of cashless economy is cybersecurity
*Lack of education.
*Online banking fraud.
*Internet connectivity.

Rate this: +30 -9

Soumendra Chakraverty said: (Jun 8, 2020)  
Going cashless is the new way of life.

Certainly removes middlemen and deposits money straightaway into accounts of millions of poor farmers or construction workers who otherwise might be cheated.

Contactless economy which is very important in such unprecedented time.

Rate this: +11 -1

Chhaya Pali said: (Jun 7, 2020)  
There are some merits and demerits of a cashless economy.


1) No fear of stolen money
2) Saves paperwork
3) Saves time
4) We can make a payment from anywhere

1) Not much secured,
2) The internet is a must,
3) Mobile or other devices must make a payment,
4) we can't refresh or can't go back during transactions.
5) Only educated people can do.

Rate this: +18 -2

Dharshini P said: (May 26, 2020)  
When 8th November 2016, When our prime minister announced that 500 and 1000 rupees notes should be banned, 86% of currency notes in India were just merely a pieces of paper. Demonetization took an unprecedented turn of trying to make India move towards a Cashless Economy.

It has major benefits like Electronic payments will help business people to boost their customer base even in different geographical locations and the real estate prices comes down as most of the real estate business happens through black money. By this way of cashless economy buying the votes by giving the cash has also reduced and it reduces the robbery and pick pocketing. Moreover It is transparent and corrupt free as IT officials can track records easily.

I would like to conclude that for a country like India it is required a transition towards a cashless economy and Government has to provide the financial literacy and Internet facilities to all its people.

Rate this: +25 -3

Kaushik said: (May 25, 2020)  
Merit :

Cashless economy is very useful during this lockdown situation.
It's very help full to avoid cobid 19.
Low corruption.
Low risk to thief.

Demerits :

It's required internet connection so it's not possible in all area and village.
High risk by hacking our data.
Required high security by banking application.

Rate this: +12 -5

Gurudatt Puranik said: (May 24, 2020)  
CASHLESS in other words means digitalisation. Digitalization is one of the primary motives of the government today.

Everything on earth has merits and demerits. In one hand, digitalization ensures security, ease of transactions, reduction in threats, volatility and stress-free businesses. There are umpty number of platforms that provide digitalized transactions and can help in easy movement of money without much prerequisites. With these in hand, there should not be any requirement of maintaining a bank passbook, visiting your broker often to check the balance etc.

On the other hand, despite the large database of the internet, only about 530 million of the Indian population had access to the internet in 2018-19. And most of the people who live in villages are not aware of how the digitalized world works.

Cashless economy has most of it's effect on the younger generation as they are more prone to such technological revolutions.

A cashless economy becomes a great step towards digitalization when people are aware of basic knowledge and requirements.

Rate this: +10 -2

Mounika said: (May 21, 2020)  
Cashless means a credit card, debit cards which mean a holder can use this cards if they mobile within a second transaction can be done by using apps like phonepay, Google pay, patym made transactions so simple within seconds work can completed. Carrying a huge amount of money with us a big headache because of theifs and we feel burden and we also become panic so by this cashless we feel better no tensions. Cashless made human being things so easy, we can do our shopping easily, from one place to another place we can send money by using applications and we can order any things, we cannot stand Infront ATMs or bank for long hours this cashless made easy for this kind problems. Cashless are spiking day by day. All this are things are useful to people who know about mobiles operation it means educated people will know a lot. Where as coming to the demerits, people from rural areas they have to stand in front banks to get money from banks, governments as to take so measures to get awareness in people, and hacking is also a problem for this it need good internet connection without that we cannot use it.

Rate this: +10 -4

Kajal Kumari said: (May 15, 2020)  
We have lots of merits which we can't deny, just because of a cashless economy we are able to do any kind of transaction to anywhere on fingertips. People even wouldn't think that instead of making a long line of the queue in the bank for long hours they will do this kind of thing from where they are and in a very easy way which helps to save our energy as well as time which is very important these days.

So what should we have to do these kinds of transaction firstly everyone should their own ATM card, or debit card so that we can easily transfer money through google pay, phone pe, paytm aap directly to any other account if we have good internet connection as we are the user we all know how much it is useful if we have just phone in my pocket it means we have everything like we can buy any product pay to anyone whosever we need to pay. We can also do card payment directly through debit or credit cards.

So it is a good initiative taken by the government, if we have all the availability then it is one of the ways to make India digital as well as cashless. In fact, in this ways we have all the records of every transaction so there may be no chance of black money we if using this mode of transaction.

And it would only happen if we have all the facilities and awareness but due to lack of proper awareness people are not using this facility in rural areas and they don't know how to use it first it would happen if everyone has a smartphone and proper internet connection government need to focus on this matter at ground level too because those who are not educated they face difficulties even fraud people easily make them fool too so government Should aware and tell them about every aspect as it easily transferable anyone embezzle them from within a sec without of their knowing.

There are lots of fraud people sitting everywhere to make them fool through fake phone call and they take all the details and but nowadays they just send one OTP and take that otp via call and money easily credited to that fraud's account, and we can't do anything.

So it is totally up to ourselves how to keep alert and spread awareness about each pros and cons of cashless economy before using it.

Rate this: +16 -5

Ashish Kumar Singh said: (May 10, 2020)  
In my opinion, the Cashless Economy is a main economic future of any developing country.

As soon as possible we achieve it we become developed. Many hurdles come in our ways to adopt a cashless economy but good effort makes it possible.

In future cashless economy will become time demand.

Demerit -.

Low technology infrastructures and illiteracy rates discourage us for a cashless economy.

Less Knowledge about the financial aspect is low in society one major demerit of cashless economy.

Rate this: +9 -4

Divyansh Patni said: (May 8, 2020)  
Hi everyone!

I think cashless economy has its own merits and demerits.

Merits :

A cashless economy is very beneficial for us. Because in this era of a cashless economy we can save our time. And with the help of this, we did not want to carry a huge amount of money with us for any work. And it also helps us in shopping. Because we all have apps like paytm, phonepay etc that helps us to pay easily and it also help us to recharge our phones.

Demerits :

If there are advantages of anything so obviously there is disadvantages also.

Because there is not much awareness of the cashless economy in rural areas and there is also a shortage of network connection so it is difficult for them to use a cashless economy effectively. And the main problem is hacking.

Online payment and transactions are not secured fully that's why it is the main disadvantage of a cashless economy.

Finally, the cashless economy has many advantages and disadvantages too.

Thank you.

Rate this: +18 -3

Dhananjay said: (May 7, 2020)  
A cashless economy is very good thing to have for a country to function properly.

Talking about the merits regarding a cashless economy then there are various good reasons for the cashless economy to work in India. The cashless economy will help the investments to grow. It will stop people from Carrying Large amounts of money with themselves to avoid getting it lost. It is a good substitute for people who often carry lots of money for business or another purpose.

The cashless economy will also motivate people to use technology as it includes using ATMs or credit cards or UPIs which will improve people's knowledge about technology.

When talking about the demerits cashless economy uses the internet to operate and that's why there are several security issues. There is a huge risk of hacking the accounts having lots of money. The cashless economy can also be a problem if not used wisely as it can be easily transferred to bad peoples including terrorist organizations through online methods so it will be responsible for the government to keep a good watch on these transactions.

Rate this: +5 -3

Shriya said: (May 6, 2020)  
Cashless Economy : Merits and Demerits.

Cashless Economy is an idea brought by the government of India. In cashless economy, the transaction is done online through various apps such as Google pay, Phone pay, Paytm, etc. Being cashless has its own merits and demerits. Becoming cashless reduces income evasion, corruption and others. Also, there will be no burden of carrying cash while traveling. The cashless economy also helps us to save our valuable time. It reduces the paperwork. There are some of the international countries which are fully cashless such as Sweden, etc.

As there are demerits of everything cashless economy has its own demerits such as data can be hacked, there is low connectivity of internet in rural areas. Also, it will be more difficult for the people of rural areas. The solution to this is that the government should educate the people about digitalization and new technologies before introducing any scheme.

Rate this: +5 -1

Utkarsh Mahajan said: (Apr 30, 2020)  
In the modern e, cashless transactions are widely increasing day by day. It has become a trend to do cashless transactions as it is a convenient method and source of doing transactions. Basically cashless economy means in which transactions are done mainly through online banking net banking from various apps like paytm, phonepe etc. While doing net banking there is a need for high-speed internet which results into a saving of time and energy.


1. Corruption and black money will be reduced because there will be proof of each and every transaction.
2. Time and energy will be reduced.
3. There is no need to take the burden of carrying money with ourselves.
4. There is no need to stand in a long queue.
5. It will help in bringing transparency in the economy rather than an increase in unacceptable and illegal activities.
6. Paperwork has reduced.


1. It is convenient for those who are educated and known to the internet.
2. It depends upon technical infrastructure.

Rate this: +24 -2

Gupta said: (Apr 29, 2020)  

As we all know what is cashless economy. It means all the transactions in the economy only be done through our bank account by using many apps like paytm, google pay, phone pay etc. By using this app all the transactions done through our bank, so there is no loophole for income evasion, corruption or others.

The merit of the cashless transaction - we don't need to take the burden of cash to carry, transaction going to be very secure and safe, getting a lot of offers from many apps for using online payment etc.

The demerit of the cashless economy -It is going to be very tough for the persons who are uneducated because they don't know how to use a phone or the internet for making payments.

Rate this: +3 -0

Pruthvi said: (Apr 25, 2020)  
As per my point of view, we all know what is the cashless economy. Definitely, any advancing is going to happen in our life there are some merits and demerits and we have to check it. Merits are definitely saved our time, it also prevents corruption, there is transparency in the transaction because we have the history of the transaction. But while thinking on the demerits I think there is only one. That is human error. If we are going to do online transactions then definitely we have to take attention to certain points. Then only there are only merits. And also if we are stepping up in any advancing we have to make their base like we have to make a strong network, reliable and easy to understand service, so anyone can take the opportunity of it.

Rate this: +2 -1

Anomie said: (Apr 12, 2020)  

1.There is transparency in transactions.
2.There is no black money.
3.Recorded data is available.
4.No cost for printing and storage of cash.
5.There is no destruction of print currency notes.
6.faster economy.


1. It depends upon technical infrastructure.
2. Always need for internet connection.
3. Very hard for places that are less connective.
4. Rely on networks every time.
5. There is a chance of lose data in cashless economy.
6. Higher security is required in cyberspace.
7. Literacy and education should be 100% required.

Rate this: +39 -6

Prashantro said: (Apr 9, 2020)  
In a cashless economy, the exchange takes place in the form of a commitment by a third party, i.e. Plastic cards, mobile banks etc. You have a commitment, but not the hard cash with you, It is with the service provider which you are using for transaction. He will allow you to use it whenever you want but own it all the time. If you are not using it, he has its possession and he can invest it to gain from it. If they use it stocks, it is used for value creation in the economy. If it is invested in bonds, the government has the liquidity to spend it in infrastructure development. In any way, the money is not going to be idle as it would be if it was in the form of cash with you.

You use the cashless commitment just like a cash. However each transaction made by you marks its footprint on whosoever has possessed it for the number of times. It gives a tool to the income tax department for all the transaction a person has done. So, accounting for his tax deliverable becomes more transparent and it becomes difficult to hide it.

The people who hold it has also an advantage of its safety, given that there is no threat to cyber hacks (which is very rare, given the security feature in the modern IT sector). Generally, the government gives the license of banking/transaction license with very tough criteria which ensure that your money is safe in their hands.

But since the government controls the financial institutions, it can limit your power to spend it in certain situations. Your spending power can be blocked if the government/judiciary finds you guilty of fraud. So in a way, your independence is lesser in the cashless scenario. Many times we hear the news of freezing the account of people/organizations in case of legal cases. Overall, the cashless economy makes the system more transparent where you as well as the government are safe, if one is legally correct.

Rate this: +10 -1

Abdul Haque said: (Apr 7, 2020)  
Hi friend's

As per my point of view. the cashless economy has n number of merits and fewer demerits and nobody can deny the merits of a cashless economy First we should understand what is the cashless economy. Cashless economy means our transaction will be based on credit card, debit card, wallets, netbanking, and by using some transaction app like Phonepay, Google play, paytm and many more no need to use hard cash. It has been many days since govt of India brought the proposal to make India cashless it is an incredible idea but it is still not implemented caused may be several but measure cause is less awareness, less literacy, and less education now let me highlight the merits and demerits first.later we will explain many more.

1. The transaction will be easy.
2. Time and energy will be saved.
3. Paperwork will be less.
4. Corruption will be less.
5. Literacy and education will increase.
6. Awareness will increase.
7. The Indian economy will grow rapidly.
8. All the transition-related work will be in my hand.
9. It will help the country to become digital and so on.

1. Smartphone and internet is required.
2. The network problem will increase.
3. The bank account is required.
4. Adequate awareness is required and so on.

Now, I want to share some crucial suggestion with you guys and government of India I am not denying the merits of cashless but before making the cashless economy government of India should spread awareness about an online transaction, adequate internet education still 40% of Indian don't know how to sign on paper especially the people who come from a rural area so first educate them and government should give attention to making digital India because for online transaction everywhere the internet is required. But after becoming cashless nobody needs to go bank, wait in a queue for a long time and so on.

Thank you.

Rate this: +17 -3

Shaik Ismail said: (Apr 6, 2020)  
Hi, one and all. I'm Shaik Ismail.

So we are discussing the cashless economy. I think most of the developed countries are now doing cashless transactions. So that we assume that if our economy is going to be cashless it will help to develop our country also. Doing transactions without cash getting confused but it will help to do work in an effective manner and complete the process smartly.

As we all know there may be some frauds behind it. But as a responsible person of society, we need to get aware of it and do it securely and safely. Everything can't be possible until we start right so do it.

Thank you!

Rate this: +1 -3

Jyothi said: (Mar 30, 2020)  
Hello everyone!

Today we are discussing about merits and demerits of cashless economy.

In the present situation, Whole world is going to be digitized. It is very prominent to be update and develop ourselves. Everything in the world is invented to improve our life standards. In the process, cashless economy is also one. It improves standards of our life. It saves the most important thing in out life that is time. Everyone will run with time. Right!. Cashless economy rescues our time. Less crime is going to happen. By the cashless economy stealing of money won't happen.

However, every coin has its two sides this implies every thing has its advantages or merits and disadvantages or demerits.

Cashless economy has also some disadvantages. Data will be easily hacked by others. Only limited apps that is yono, sbi is official online transaction app for payments remaining all gpay, phonepe, and other payment apps are not official but we still use these apps for rewards. Our bank details and related data will be easily hacked by these and it may be used for illegal purposes. And next disadvantages is sometimes payment stuck in between the transaction however it may be recovered but is scare the people.

So, I request everyone to be aware of all these things and use everything properly. Everything is in our hands.

Thank You!

Rate this: +10 -1

Raghav Agrawal said: (Mar 30, 2020)  
Cashless payment include the direct saving of our money in our saving account in a private and secured way. It is an individual daily need which is in various form whether it include shopping, bill paymets, recharge and many more. The major problem solved by this technology is problem of Double Spending which was major problem in ancient time, and cured in form of Bitcoin as peer to peer transanction and become cashless. It saves the lot of time as well as paper work.

The major problem of cashless is awareness, rural people are not aware of this and if they, then they affraid to follow the technique due to some of criminal fraud in this sector.

But now, its very secure, there are various companies working in this sector and made it fully dicentralized and distributed which allow various authoritive domain to cooperate, collaborate and coordinate in rational decision making process.

Rate this: +1 -0

Mangesh said: (Mar 21, 2020)  
Hello, my self Mangesh and it is very glad to me to be part of this discussion.

According to me, In recent time the used of cashless facilities has increases, which is a great thing to achieve the growth in the overall economy. There a lot of benefits of cashless such as it save the time, cost and many more. I don't think so that the cashless economy has a disadvantage but only fact that data security is an important factor to be considered. I n my opinion after making any platform for a cashless transaction, along with that we should educated the people especially the backword section of our country regarding there uses and it's benefits.

Rate this: +3 -0

Yusuf Ahmed said: (Mar 11, 2020)  
India is the second-largest smartphone market, would benefit a lot from going cashless. Every year India's smartphone penetration grows exponentially. India's biggest problem it's corruption will be greatly addressed. Using online transaction means there will be a online receipt of a transaction which cannot be removed from the company's server or either of the people.

- A successful example of the digital economy would be Africa in which 92% of the economy is cashless. People have to create a mpesa account which can be accessed through SMS service and money can be transferred through the same way.

- Another example is Sweden in the the entire economy is cashless. In addition to being corruption free, the country has also low crime rates in terms of snatching and stabbing during robbery.

- Bringing the economy to a digital platform will make it easier to trace back black money or laundering cases.

- This vision is in effect in India. The government launched a program in 2015 DIGITAL INDIA with a similar objective.

1. Curbing the issue of black money.
2. Digitizing government services.
3. Digital literacy to the masses.

- Cashless economy means no standing in queues,

Accessing government services, reduce the hassle of paperwork.

- Digital literacy may be the biggest plus point as education means empowerment and people are empowered the country's progress.

- A similar trend picked up the pace from the last 2year which was BITCOIN, a cryptocurrency, decentralized network of payment with its own form of money which each transaction is recorded in every user so that the receipt of that transaction is never erased.

- In addition to being advantageous economically, technology-wise it will be fruitful as developing the platform will need engineers and it's maintenance too, so technological advancements will take place.

- As the transaction can be traced back it will a great help legally.

- Environmentally it will be good as our paper dependency will be greatly reduced.


1. The people in rural will have to be trained to deal with the online platform.

2. The biggest threat will be CYBERSECURITY. Keeping the network afloat means there should be no downtime in the servers and cyber threats will have to carefully monitored and scrutinized.

Hackings, viruses will have to be controlled.

India last year had about 30million cybersecurity threats. If the cashless economy continues by 2025 India will need about 10 million cybersecurity professional which would deal in building the network, maintaining it, averting viruses, hackings, back door entries, etc.

But in conclusion, a cashless economy will benefit a lot creating more jobs better jobs, literacy rate will be increased, government services will take a shorter time, corruption will take toll for the good and India dream of a 5 trillion economy will be fulfilled.

Rate this: +40 -2

Prashant said: (Mar 4, 2020)  
Merits - First I want to tell you all the merits of the cashless economy through a cashless economy everyone can save their time as well as the efficiency of their work. Paperwork will reduce its means of tree will safe.

Demerits - All the people are not aware of this so if the cashless economy increase, so it is a chance that the people who have money in from cash can be struggled, especially in rural areas.

Rate this: +14 -8

Triya said: (Feb 27, 2020)  
It is obviously difficult to implement the cashless economy in a country like India where there is a large number of uneducated crowd and then it is hard to make transactions via e-payment when an internet connection is hampered.

Rate this: +18 -7

Vikas said: (Feb 25, 2020)  
Hello everyone.

I would like to explain about demerits of online transaction, now a days the online transaction is a very common mode of transaction that everyone having phone pay, google pay, Paytm etc and they are very safe and secured to use, but that apps need internet connection, and in somewhere it is unsecure because, now a days the hackers what they are doing means, they will send a common link through that they access your phone, and they will get all the permission needed to hack the apps through that they hack account and all information, people easily come under their intension, and another one is the uneducated people like former's, worker's they don't know how to operate it, because of that India still in the initial stage of cashless India.

Thank you.

Rate this: +26 -5

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.

Rate this: +30 -1

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.

Rate this: +13 -2

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.

Rate this: +12 -4

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.

Rate this: +16 -2

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.

Rate this: +16 -16

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.

Rate this: +42 -4

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.

Rate this: +24 -5

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.

Rate this: +24 -5

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.

Rate this: +60 -6

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.


Rate this: +54 -6

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.

Rate this: +22 -9

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.

Rate this: +17 -6

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.

Rate this: +26 -7

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.

Rate this: +9 -15

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.

Rate this: +12 -4

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.

Rate this: +8 -1

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.

Rate this: +39 -2

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.

Rate this: +25 -7

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.


Rate this: +36 -9

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.

Rate this: +2 -3

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.

Rate this: +19 -3

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.

Rate this: +3 -0

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.

Rate this: +3 -1

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.


Rate this: +20 -3

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.

Rate this: +4 -5

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.

Rate this: +13 -6

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: +39 -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.

Rate this: +11 -16

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.

Rate this: +32 -7

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

Rate this: +32 -2

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.

Rate this: +42 -10

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.

Rate this: +29 -6

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.

Rate this: +29 -3

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.

Rate this: +6 -4

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