Merits and Demerits of Cashless Economy

Hello. Good afternoon.

This program inaugurated by our PM Narendra Damodardas Mod in the year of 8th Nov 2016.

My opinion, now a generation Aadhar has been using every field for Identification. It's not hacked easily, but nowadays crime in every sector going on Increase. So Aadhar is not secured. Our high court announced that Aadhar is not compulsory for all activities.

So, I think Aadhar is not necessary or not safe for us.

Thank you.

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

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

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

Hi, I'm Nishikant.

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

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.

Demerits:

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.

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

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?

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.

Cashless Economy is Good for the new generation but in this generation, it's not good for everywhere the cause of not all of the people know about it. Like a village in any other places where education level is not good.

Hello Everyone.

As we know that we are the youth of modern age and we want more relaxation in our life because we don't want to do hard work. So the cashless economy is very helpful in our daily life. Many people of India are using this facility which is saving money and reducing time. But everything has two sides one is good and another is bad. Nowadays anybody can steal the data and information easily so this is the minus point of this technology. And another problem is many people in our country do not read and write so they do not know about it and poverty is also the major problem of this system they cannot buy expensive mobile phones.

Thank you.

Hello everyone,

This is the Ram, today I'm going to speak about merit and demerit of the cashless economy.

We are in the 21st century that is the digital era.

By adopting the cashless system we are so much benefited. Like, pay bills just in few seconds, by ticket quickly and many more.
It's a good initiative by our government.
It also has some drawback for which we have to careful.