Merits and Demerits of Cashless Economy
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Discussion:
434 comments Page 37 of 44.
Ekta said:
6 years ago
I would like to share my views on the Cashless Economy.
Nowadays everyone knows how to use a mobile phone. We can transfer money to anyone through phone, after purchasing anything we can pay money by card or we can do online. We don't have to carry huge amounts with us. Now, we can do anything through the internet it may be shopping or ordering food items and many more.
Nowadays everyone knows how to use a mobile phone. We can transfer money to anyone through phone, after purchasing anything we can pay money by card or we can do online. We don't have to carry huge amounts with us. Now, we can do anything through the internet it may be shopping or ordering food items and many more.
(19)
Rakhi said:
7 years ago
From my point of view, there are both merits and demerits of a cashless economy.
First of all, it's a very much effective, swift and secure method of online money transaction. And also there will be a minimum case of fraudality and all the transactions will be directly reported to the government.
Also, it may reduce corruption and the amount of increasing black money.
First of all, it's a very much effective, swift and secure method of online money transaction. And also there will be a minimum case of fraudality and all the transactions will be directly reported to the government.
Also, it may reduce corruption and the amount of increasing black money.
(11)
Virtual said:
7 years ago
Merits of the cashless economy is way too much as compared to the demerits, a world without currency note is definitely a big dream for many of our economists.
Personally, in my view, the cashless economy should only be applied where the literacy rate is 100% both in academics and computer world knowledge otherwise it may be biased for some section of our society.
Personally, in my view, the cashless economy should only be applied where the literacy rate is 100% both in academics and computer world knowledge otherwise it may be biased for some section of our society.
(5)
Samarth Gaur said:
6 years ago
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.
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.
(42)
Sudhanshu Kumar said:
5 years ago
Hello,
My name is Sudhanshu Kumar.
Here I am talking about merit and demerits of cashless economy.
MERIT:
1. Pay and accept money in seconds.
2. Protection from spreading duplicate currency.
3. Protection from theft.
4. Prevent inflation.
5. Safe and secure debit and credit.
DEMERIT:
1. Chance to cyber theft.
2. Transaction can't be done in lack of network.
My name is Sudhanshu Kumar.
Here I am talking about merit and demerits of cashless economy.
MERIT:
1. Pay and accept money in seconds.
2. Protection from spreading duplicate currency.
3. Protection from theft.
4. Prevent inflation.
5. Safe and secure debit and credit.
DEMERIT:
1. Chance to cyber theft.
2. Transaction can't be done in lack of network.
(16)
Lavkush Yadav said:
3 years ago
First of all, thank you for giving me this opportunity to start the discussion, in present time we see more advantages of cashless payment.
* It is very is a process.
* Less time-consuming.
* No mistake in counting the balance.
* Not more crowded in Bank etc.
Disadvantages:
* Fraud ness is more.
* Less secure.
* Less reliable.
* vBalance is finished high rate.
* It is very is a process.
* Less time-consuming.
* No mistake in counting the balance.
* Not more crowded in Bank etc.
Disadvantages:
* Fraud ness is more.
* Less secure.
* Less reliable.
* vBalance is finished high rate.
(10)
WAJID SHAIKH said:
4 years ago
There are some merits and demerits of a cashless economy.
Merits:
1) No fear of stolen money.
2) Saves paperwork.
3) Saves time.
4) We can make payments from anywhere.
Demerits:
1) Not much secured.
2) The internet is a must.
3) Mobile or other devices must make payment.
4) we can't refresh or can't go back during transactions.
5) Only educated people can do.
Merits:
1) No fear of stolen money.
2) Saves paperwork.
3) Saves time.
4) We can make payments from anywhere.
Demerits:
1) Not much secured.
2) The internet is a must.
3) Mobile or other devices must make payment.
4) we can't refresh or can't go back during transactions.
5) Only educated people can do.
(21)
Chhaya pali said:
5 years ago
There are some merits and demerits of a cashless economy.
Merits:
1) No fear of stolen money
2) Saves paperwork
3) Saves time
4) We can make a payment from anywhere
Demerits:
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.
Merits:
1) No fear of stolen money
2) Saves paperwork
3) Saves time
4) We can make a payment from anywhere
Demerits:
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.
(20)
Varshini said:
5 years ago
Hi everyone,
Thanks for giving me this opportunity to share my opinion. Cashless economy is one of the important tools for every developing country.
Merits:
It reduces time and makes transactions safe. It decreases theft. It makes the world into digitalization.
Demerits:
Still, some rural people are not aware of digitalization. The data may theft by hackers.
Thanks for giving me this opportunity to share my opinion. Cashless economy is one of the important tools for every developing country.
Merits:
It reduces time and makes transactions safe. It decreases theft. It makes the world into digitalization.
Demerits:
Still, some rural people are not aware of digitalization. The data may theft by hackers.
(15)
Likhita Krishna said:
7 years ago
In my opinion, India holds 122th rank on GDP rate. This rank evidently shows that India is in the agile side of development than earlier. Cashless economy reduces the effort of printing money, counterfeiting is eradicated not only that it inspires people and make its necessary for the people to adapt the technology. With lead India to globalize it's people.
(19)
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