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CASHLESS ECONOMY.ppt
1. CASHLESS ECONOMY
Presented by :- Presented to :-
Nishant yadav Mr. Sushant yadav
Class:-MBA assistant professor
Roll no. :- 2264 department of management
2. CONTENT
What is cashless economy??
Steps towards cashless economy
Various E-Payment methods
Steps taken by RBI and government towards cashless
transactions
Challenges in India for making a cashless economy
Benefits of cashless economy
Difficulties and disadvantages in cashless economy
Conclusion
3. What is cashless economy??
Cashless economy is an economy system where small
amount of cash is used in transaction.
Cashless economy is based on transaction made by
credit cards, debit cards, paytm wallets or digital
modes.
Cashless economy is cost effective, growth friendly,
business friendly, pro-financial inclusion, etc
Cashless economy requires robust digitalization.
4. Steps towards cashless economy
Incentives for encouraging electronic payments.
Direct benefit transfer of subsides through aadhar
card integration.
Mandatory use of PAN card in sale transaction of
more than 1 lakh.
Opening up of various payment banks across the
country.
5. Various E-Payment methods
Payment banks
Electronic fund transfer systems
Mobile wallets
Internet banking
Banking cards
Mobile banking
UPIs
6. Steps taken by RBI and government
towards cashless transactions
On digital transaction upto ruppes 2000.service tax of
15% waived off
Digital purchase of fuel through credit cards, mobile
wallets or e-wallets, discount of 0.75%
Free accident insurance worth rupees 10 lakhon
account of online ticket buyers
On purchase of new LIC policies online via its site,
8% discount is offered.
7. Challenges in India for making a
cashless economy
Transactions are mainly in cash
ATM use is mainly for cash withdrawals and not for
setting online transactions
Limited availability of point of sale terminals.
Mobile internet penetration remains weak in rural
India.
The low literacy rates in rural India & lack of
infrastructure
8. Benefits of cashless economy
Reduced printing cost
Direct benefits transfer of subsidies for LPG,
fertilizers and many more
Time saving
To avoid threat of currency
Environment friendly
Will accelerate the economic growth
9. Disadvantages in cashless economy
Technical for comman public
No room for uneducated
Cyber crime
Hacking or identity fraud
Problem of network in prone areas
Lot of electricity required to make digital currency
Bank server issues
10. Conclusion
In my point of view cashless economy is good
for our country it reduces corruption and save
time you can easily pay you don’t need to go
bank. I know some areas don’t have a proper
network connection but India is progressing
day by day. So one day India will be free from
cash and India will become a cashless
economy.