Merits and Demerits of Cashless Economy

Good morning to one & all.

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

Merits are:

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

Demerits are:

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

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.

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.

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.

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.

Hello everyone,

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

Hello everyone myself Abhishek Yadav from Bangalore district of Karnataka.

As per cashless economy is concerned I think that it will be beneficial for our country.

As we know that there's a lot of work like paying bills to government and many more can be done online as we also know that our population is growing day by day so the government also need to increase there offices workers rather than that if it goes online we will be able to do stress fewer works.

As per demerits is concerned nowadays due to unemployment hacking and frauds has gone on another level which Ultimately does the loss of people I think the government should launch some skims for knowing properly use of technology.

That's all my opinion.

Have a nice day thanks.

Hello my name is Vasu lets come to the topic which is the cashless economy as we know them to love in 21 century without digitalisation is not possible our pm Modi ji started this campaign in 2015 as we know that everything ha it's pros and coms first talk about its pros. It reduce robbery and theft. Now people can book the tickets of aeroplanes and train just in seconds. One can transact money from one place to another place just in a sec but it increases the risk of cybercrime and hacking.

Hi, This is Rama Krishna Battula.

I would like to express my thoughts on the merits and demerits of the cashless economy.

Merit: Going cashless is simple and easy and all about a transaction between banks.
Demerit: Transaction does online so that there is a chance to theft, fraud and cyber-attack.

Hello Everyone,

Today our Topic is cashless Economy has everything as two sides good and bad. The cashless economy also has merits and Demerits.

Merits-.

- It makes it easy to transaction of money.
- It reduces the time of people to withdraw their cash.
- It make unneccessary to carry cash because everywere online payments are done.

Demerits.
- Due to some network issue transaction are restricted.