India Is Ready For A Cashless And Paperless Economy.

India is ready for a cashless and paperless economy.....
According to the Government ofIndia,thecashlesspolicy will increase employment, reduce cash related robbery thereby reducing risk of carrying cash. The financial safety over the digital payment channel isimportantfor pushing thecashless economy idea. We can process the payments through online net banking platforms.

Acashless economyis a system where any type of money transactions are done through digitalmeanslike debit cards, electronic fund transfer, mobile payments, internet banking, mobile wallets, and other newly evolved payment channels, this will leave very little scope for the flow of hard cash inthe economy. We can abolish the corruption, black money in the country. The financial system in India is not properly arranged and organized we have non-social elements corruption and black money which are destroying the development of the country and ruing the lives of Indians.

Indiaismoving toward a cashless economybut it remains debatable if itcanmeet an the ambitious target set by the government of Prime Minister Narendra Modi for 25 billion digital transactionstobe conducted in the current fiscal year ending in March 2018.

No, yetIndiaisnot readyfor acashless economy. There are many problems faced by Indians to become acashless society. We have many issues to be solved even before the cashless economy. India can not become cashless (at least for today) but we should give more emphasis on making India a less cash society.

Still a large the number of population in living in rural areas, they are illiterate (not everyone) to use the digital modes of payments. Even if you make them aware they always have of fear of losing their money as they have grown up using cash and they strongly believe in a cash transaction. Many of them don’t know how to use mobile phones so it is difficult to teach them using their mobile phone as a bank. The network problem is also a hurdle, as it may result in transaction failures.

But the people in India have many issues to while processing through digital banking many people are unaware of it in order to make more awareness among them people need to conduct campaigns and advertise the merits, advantages of using the digital banking. Lack of awareness stops them to use debit cards for payment as they can be cheated much easily than an aware person. It is not impossible but it is highly difficult for India to become a cashlesseconomy.

" impossible the word it self says i'm possible"