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“Cashless Economy”- A Blind Dream or a Brighten Future

Cashless Economy

Now a day in India everybody is talking about PM Narendra Modi’s decision on demonetisation. As every coin has its own head and tail, this decision is has many views. Some people are saying that this is a revolutionary decision to stop corruption and terrorism and make a hold on Black Money but at other hand, some people are compared this decision as financial emergency. Well, this will be decided by time. Here we are talking about an another topic which is closely related to this decision that is about cashless economy system as PM gives the advise to people to use this system as much as they can. But the question is that how much this will be beneficial and successful in India.

Cashless Economy

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Cashless financial system is now at its developing process and a very huge population of India doesn’t know any idea that how does it working. There are many other question are rising in the people’s mind regarding cashless theory of Prime Minister. Here are some points are given here about it.

  • Cashless system is totally depending on internet, there are many areas in India where internet is not available yet. How is this will be work in such places?
  • Indian web system is not so much advanced that it handles the e-transaction economy such a big country where 120 carors people are living.
  • India is the country where internet shutdown occur most in all over the world, so what will be the future of this system.
  • India is not enough strong yet against cyber crime so how shall we satisfy that our money is in safe hands.
  • Advanced and developed countries or countries which are not a good friend with our nation can be harmful about cashless system.

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  • Here we are pointed out these some points regarding cashless economy and we are happy to share with you as a survey. Here you can gives your opinion about below question as your point of views.
  • It is more time consuming than paper currency due to open the app and loading page for transactions. It takes an average time of opening the paying app in India is 5 Sec.
  • Who will be the responsible if someone bluffs a common people via e-transaction?
  • This will become impractical if you move to another country.
  • Without cash there would be no immediate payments for goods and services.
  • Why people pay extra charges for e-transaction?

Will cashless economy be practically successful in current financial circumstances in India?

  1. Yes
  2. No
  3. Can’t say.

You can share your view in the comment box on our website

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Updated: December 9, 2016 — 2:06 am

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