Do you think India is ready at this time to transform from cash based economy to cashless economy? [poll]

+1 vote
asked Dec 28, 2016 in Polls by PRASHANT TYAGI (1,175 points)
commented Dec 28, 2016 by PRASHANT TYAGI (1,175 points)
Give reason in support of your choice.

4 Answers

0 votes
answered Dec 28, 2016 by Dhasaratharajan (70 points)

1.Transperency -Clean and more transparent business transactions and money transfers.

2. Reduce the instances of tax avoidance

3. Reduced money laundering.

4. Easy interlink  with financial inclusion and credit access

0 votes
answered Dec 30, 2016 by kamal dangi (800 points)
Yes India is in condition of cashless there is nothing which can't do India India has largest no of Internet user
commented Dec 30, 2016 by PRASHANT TYAGI (1,175 points)
But at the same time India stands at 96 position in internet speed.
And low broadband connectivity.
 And low digital literacy.
What do you think about this?
+1 vote
answered Dec 30, 2016 by Sonu kumar (335 points) 1 flag
Due to shortage of currency in market after call of demonetisation,the government of india has decided to enhance cashless transactions.In this way a lot of schemes and apps has been launched to promote cashless economy.But in India where people have long experience of cash based economy,it is not possible to easily persuade people to adopt cashless based transactions without proper preparation.
    Only 40 per cent of the population has debit and credit cards.
  Only 3 per cent people know about digital payments.
 There is no prior intiatives for digital litteracy.
 No access of internet in sub urban and rural areas.
 Lack of ciber security.
These are the bottlenecks in the way of transforming india from cash based economy into cashless economy.
The government needs to address these bottlenecks if it really wanted to transform india a cashless economy.
commented Dec 30, 2016 by PRASHANT TYAGI (1,175 points)
Your points are strong.

keep answering ... and keep learning .......

Also give suggestion on how to improve the problem ..
0 votes
answered Jan 24, 2017 by prasad bansode (295 points)
we don't have sufficient no. of ATM's in #rural areas as well as in #urban areas & still our banks use windows xp os for our atm's & it's not safe.

 our cyber security cell are not ready for world class hackers to prevent our bank account,online transaction from online robbers.

only 20-30% population use cards.

many peoples have cards  or smart phone but actually they don't know how to use

& many mores


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