Merits and Demerits of Cashless Economy
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Discussion:
434 comments Page 38 of 44.
Udaya chandra said:
4 years ago
Hi everyone,
Merits.
1. No fear of stolen money.
2. Save paper and trees.
3. Black money can reduce.
4. We can transfer money from anywhere.
DEMERITS.
1. It needs internet.
2. Only educated peoples can use.
3. Lot of hacking problems.
4. It losses money jobs who are working under banking sector like ATM Feeder, securities, money deposit vehicle drivers.
Merits.
1. No fear of stolen money.
2. Save paper and trees.
3. Black money can reduce.
4. We can transfer money from anywhere.
DEMERITS.
1. It needs internet.
2. Only educated peoples can use.
3. Lot of hacking problems.
4. It losses money jobs who are working under banking sector like ATM Feeder, securities, money deposit vehicle drivers.
(25)
Spandana said:
6 years ago
In my point of view there are many merits when compared to dermits using cashless economy because by using the online transactions we can save our time cashless economy van also avoid corruption in India.
The dermits are in India still there is a iileteracy so they don't know how to do transactions in online and there is a network problems in rural areas.
The dermits are in India still there is a iileteracy so they don't know how to do transactions in online and there is a network problems in rural areas.
(40)
Swati said:
7 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 payment 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 payment 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
(45)
Rakesh said:
6 years ago
After GST, today we all using online transaction so if we talk about online business then after GST we all know that it very affected our business because of increasing price. So, I don't think that these online payment modes give us a positive effected, I am the CEO of jingo holidays travel agency so I am just sharing my bad experience. Thanks.
(10)
Mohd shahid said:
6 years ago
The cashless economy is the uses of internet to transfer money, payment etc its a very fast way of transfer money or doing payment without being theft and fraud and it save a lot of time as we stand in queue for bank and atm transaction.
But everything has some demerits.
- need skiil to transfer.
- need internet.
- need smartphone.
But everything has some demerits.
- need skiil to transfer.
- need internet.
- need smartphone.
(14)
Ankita said:
7 years ago
I want to add that it has brought transparency as all the transactions can be tracked hence majorly impacting terror funding organisation as most of the fund that was collected was black money and can't be tracked.
Demerits, I think the major demerit is accessibility. Digital medium of transaction is not available all over India.
Demerits, I think the major demerit is accessibility. Digital medium of transaction is not available all over India.
(7)
Piyush Rajliwal said:
6 years ago
On this GD topic, Cashless Economy.
My view is that cashless Economy helps in Digital India. Online payment helps everywhere in villages as well as smart city's. The money transfers fastly everywhere every time.
Everything has some Merits and demerits demerit is that most of the people are not know well about the initiative.
My view is that cashless Economy helps in Digital India. Online payment helps everywhere in villages as well as smart city's. The money transfers fastly everywhere every time.
Everything has some Merits and demerits demerit is that most of the people are not know well about the initiative.
(18)
Pradeep tekam said:
7 years ago
The cashless economy is the great initiative. It has a result in the diminishing of tree cutting. Papers are being lesser used. It's a simple and very easy way to transact money. But it has demerit also like the area where the facility is not available or online facility is not available will result in some kind of trouble.
(8)
Nishikant said:
6 years ago
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.
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.
(7)
Paridhi Nareliya said:
3 years ago
In my opinion, the merits and demerits of cashless economy are -
Firstly, it save the time of the people while purchasing any products and services
But when it's came many people are not aware about digital payment mostly old people sometimes they give more instead of actual money and peoples use this as their benefits.
Firstly, it save the time of the people while purchasing any products and services
But when it's came many people are not aware about digital payment mostly old people sometimes they give more instead of actual money and peoples use this as their benefits.
(21)
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