Merits and Demerits of Cashless Economy

Hello everyone!

In the cashless economy, we have both merits and demerits and I would like to agree with the statements of merits and demerits give by all the above participants such as.

-we can avoid the corruption.
-we can maintain the transparency.
-we can save the lots of peoples time -.
-we can save lots of paper wastage.
-ink wastage. Etc as merits and.
-lack of knowledge to the illiterate people.
-lack of security ect.

But, still we can work out with the technology to avoid the demerits such as.

-providing the fingerprints, face recognition to avoid security problems.
-Acknowledging the rural people while they buy their smartphone like (govt was giving the training to the people who wants to learn driving and they certify by the driving test) they have to acknowledge them how we can use the smartphones and the how to use cashless economy.

So, everyone can enjoy the cashless economy happily.

Thank you.

This topic is very interest but the cashless economy decreases the unemployment. Due to this unemployment Very big problem in India but we need to terminate this cashless economy due to the next generation it is very problematic.

Hello everyone, in my opinion, the cashless is a very wonderful concept because it is very useful for the people government has taken this initiative so that it can reach to each and every person in the world. But it has certain drawbacks like our data is not safe.

And important information.

Hello everyone.

According to me, the cashless economy is the need of this generation, no one has time to stand in the bank queues.

Also, our govt takes initiative so that it reaches to each n every person in the country, in the remote areas too. Bheem app is so easy to operate even an illiterate person can handle it very well.

But we need to give time and keep patience.

Everything has drawbacks but the cashless transaction has more pros than cons.

Because of the cashless economy paper and printing ink can be saved which is more useful for nowa days.

Without any doubt, the cashless economy is a wonderful concept. It checks the risk of theft of both life and property. Cashless directly or indirectly keeps us burden free. Here the transaction of the bigger amount can be done in a fraction of second but along with that as we know that everything in this world has both merit and demerits so this concept also has the both. The main demerit is that the stealing of important information and data security but although it can be checked by various measures.

Thank you.

Some ideas change a whole world and that one is cashless and cashless comes from digitisation. Cashless growing rapidly due to easily available of Mobile. Cashless do our work more easy by a single click on button. Like :- If you want to pay money anyone anywhere through cashless traction.

But this is totally depend on network if it network is fail then may snarl in poblem. That is why villages person are not use easily.

It is wonderful to discuss. 2 years back I have a mobile and it is only for playing games chatting with friends and spent time on social sites. But when the cashless transaction started. I use my mobile totally different now. I can pay electricity bills, I fill the online forms and do the transactions very easily. And by it, corruption is also Less. But there are issues in rural areas people don't know about the cashless economy and. In cashless transactions. There is an issue of security. But this problem is solved nowadays. So, Only one issue to educate the rural areas people how to use these platforms.

Thank you so much for listening to me patiently.

Of course, the cashless economy very beneficial for us to progress in our country. It helps us to provide money any time and anywhere in the universe. Earlier on the occasion of festival banks are off, ATM was not available in villages so people have to suffer many problems for money. But now digitization has removed this problem. But every villagers are not able for using mobiles Internet. So there are same problems people have to face. I see when I go to bank there bankers were not providing good service to illiterate peoples, and they are not use the digital facilities. This are the some problems which India have to face.

If I say about merits about cashless economy, then there are lots for the people who are living in urban areas. We can easily get transaction anywhere, we shouldn't have wait for a long time in queues, specially for railway tickets. For shopping, we should not have to carry cash, which sometimes creates a bit risky from robber and many more.

But when it comes to the people belonging in core of heart, basically in rural areas. They even didn't have proper electricity connection, they had the connection for the name sake. People use to charge their mobile in local markets at a cost of around Rs. 20 for full charge. So, What can the cashless economy make change their life.

In short, I want to say that cashless economy is benefiting only to the people who are residing in urban areas or who have proper financial knowledge. We should think about the rural people more, that how differently cashless economy could benefit them.