Merits and Demerits of Cashless Economy

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.

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.

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.

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.

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.

THANK YOU !

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.

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.

THANK YOU FOR GIVING ME A CHANCE TO REPRESENT THIS TOPIC.

HAVE A NICE DAY.

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........

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.

THANK YOU FOR GIVING ME A OPPORTUNITY TO REPRESENT MY VIEW.

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.