IS INDIA IS READY FOR CASELESS ECONOMY
Namaste / Hi ,
Today we will talk about India is india is ready for caseless economy.
We will see both side One "YES INDIA IS READY" and "NO INDIA IS NOT READY"
A. YES INDIA IS READY FOR CAESLESS ECONOMY:
1 According to TRAI, as on 30 September 2016, every 82 out of 100 citizens in India having a mobile phone. The evolution of the telecom ecosystem, with significant reduction in call and data rates, along with the prices of smart phones, push the indian people to doing digital payment.
2.The government approved for a proposal, under which there would be no charge for BHIM, UPI, and debit card transactions up to ₹2000.
3. In India cashless system reduce the cost several things due to the caseback offers given by payment apps like PAYTM ,BHIM , PHONEPAY etc.
4. There is 3X increment in the downloading of mobile wallet app within 2 days of the demonetization announcement.
5.There is no risk of money getting stolen or lost in digital payment apps . Even if the card is stolen or lost it is easy to block a credit/debit card or a mobile wallet easily.
B. NO INDIA IS NOT READY FOR CAESLESS ECONOMY:
1.In India more than 60% of population belongs to rural region and large no of them are illiterate . And almost half of the them doesn’t have mobile phones and a large percentage of them are computer illiterate. They are not comfortable using computers or mobile phones for transactions .
2. India is a country where 90% of transactions are paid for in cash . So right it become very dificult to convert them into caseless.
3.Digital India suffers from the threat of thefts and hacking of digital money instruments. The ATM cards, Debit/Credit cards. That's why Indian people dont have believe on digital payment.
4. In india 60% people too poor to buy a smart phone for doing digital works.
5. Most important people to india are not aware about digital payments digital marketing it take time .
#So according to you Is india is ready for CASELESS economy or not...comment below
Thanks
According to me, india should have been the first country to embrace digital payment systems and refrain from dependency of so called ex colonially backed fiat currencies. What is india doing foreign trade with? Resources? With the whole world paying peanuts to farmer of white gold for instance, the indian value economy should not be reduced to a third world by historically insignificant events. Its time that the indian government accepts and regulates cryptocurrencies. Libertarian ideologies are more indian than a totalitarian socialist dogma of current governments that is sold to the indian people as democracy. I am not saying that india should overthrow it’s government but embrace a decentralized system specially for it’s underprivileged societies.
Yes you are right some where