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MA K E MON EY
BLOG GI NG
REV IEW S
http://moneyconnexion.com/cashless-economy.htm
MONEY T IPS
CAR EER
BUS IN ES S
S AVI NG T IPS
M LM
S CA MS
S IGNUP
DECEMB ER 7, 2016
LEAV E A COMMEN T
Everyone is facing huge problem when it comes to shortage of Rs 500 and Rs 1000 notes.
Why do we have to face this problem?
Is it by default or by design? Is our government doing the right thing?
Is cashless economy going to bene t this country? Or it is just for rich and poor have to
suffer.
We debate all this and many other things in following article.
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http://moneyconnexion.com/cashless-economy.htm
In simpler words no liquid money or paper currency will be used by the people in a given
country.
In a cashless economy the third party will be in possession of your money.
He will allow you to transact that money whenever it is needed. If it is not needed then the
third party can use that money.
Third party can be a government or any other public or private sector bank.
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http://moneyconnexion.com/cashless-economy.htm
We are seeing the impact of cashless economy on the society when it comes to crime rates.
According to Union defense minister after demonetization the crime rates in Mumbai has
dropped to half.
Not just Mumbai but Delhi is seeing a substantial decline in crimes related to nancial
motive.
Bank robbery, burglary, extortion etc are declining because of demonetization.
Financial Inclusion
Digital economy will help to enhance our current banking system. There will be increased
access to credit for people who did not fall in any banking network.
Financial inclusion will automatically reduce poverty.
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http://moneyconnexion.com/cashless-economy.htm
Boost in Consumption
There would be no incentive for people keeping money in the bank. So they would love to
spend on things that they like.
It will help to boost consumption that is really good for any economy. More jobs will be
created and income level of people will rise.
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http://moneyconnexion.com/cashless-economy.htm
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http://moneyconnexion.com/cashless-economy.htm
for them.
Government has to be inclusive and include all sections of society before they go for a
cashless economy.
Otherwise poor which is more than 50% of the country will reject cashless economy and
government has to suffer set back in coming elections.
So you can conclude by saying cashless economy is good if it is inclusive otherwise it is really
bad.
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http://moneyconnexion.com/cashless-economy.htm
5. Internet Speed
The internet loading speed is very slow. The average page load time in India is 5.5 seconds
whereas in China is just 2.6 seconds.
MONEY T IPS
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