Presentation on Are we ready for cashless Economy

1. ARE WE READY FOR A CASHLESS ECONOMY?
BY :- POOJA MITTAL

2. CASHLESS ECONOMY
• A Cashless Economy is one in which all the transactions are done using
cards or digital means. The circulation of physical currency is minimal.
• The money transactions are done through means like debit card, mobile
payment, internet banking, electronic Fund transfer and other newly
evolved payment channels.

3. Cash Simply means using less cash, everywhere we
can use cash. What might be -
• Hospitals
• Tolls
• Schools
• Public Transport
• Petrol Pumps
• General Store

4. Why Cashless?
• Saves money and Time
• Less Cash Decreased crimes
• Avoid risk of carrying cash
• Freedom in case of change in odd
cash transactions
• Fake currency can be avoided
• Tracking of transactions is possible

5. Benefits of Cashless Society
1) Cost Reduction
2) Risk Reduction
3) Efficient and Convenient
4) Tracking Spends
5) Increased Transparency
6) Promotion

6. 1) Cost Reduction
• Reducing cost of Printing of
Cash
• Reducing cost of Storing of
Cash
• Reducing cost of
Transportation of Cash

7. 2) Risk Reduction

8. 3) Efficient and Convenient

9. 3) Efficient and Convenient

10. 4) Tracking Speed

11. 5) Increased Transparency
• It helps in reducing
Corruption
• It helps in reducing Black
Money

12. 6) Promotion

13. Lower Risk
• If stolen, its easy to block
a card or a transaction
remotely, but it is almost
impossible to get your
cash back.

18. THE QUESTION IS STILL HERE
CASHLESS INDIA : DREAM OR REALITY???
While India is trying to take step towards digital, it has a long way to go.
Sweden, South Korea, Denmark, Canada have high percentage of cashless
transactions- as high as 75-85%.Of course, these countries are either
smaller, or have a more educated population, higher penetration of
organised retail and higher awareness about digital than India. The
problem may also be that more often than not users are being pushed to
pay digitally and not the merchant to accept digital payments. You can’t
just say go for digital and not educate villagers, the smallest of kirana
store-owner or cloth Merchants to adopt cashless payments.

19. Where we are left behind??
1. Lack of Education
2. Poverty
3. Cyber Security
4. Online Banking Fraud
5. Internet Connectivity
6. Some Basic Needs

29. THANK YOU
Pooja Mittal