Question

AIMS AND OBJECTIVES OF PLASTIC MONEY FOR PROJECT

Answer 1

Plastic money has brought a revolutionary change in the economy. While using plastic money modern technology is used for digital transactions.

The term plastic money refers to the hard plastic cards which are used instead of actual bank notes. For example, cash cards, debit cards, credit cards, pre-paid cards, and store cards. These cards can be used to buy things from the market.

Aims and objectives of using plastic money are:

1. To reduce the expenditure on printing notes.

2. To make the monetary transactions more transparent.

3. To provide convenience. There is no need to carry big bulks of cash in the wallet. Saves the time spent on repeated visits to the banks.

4. To ensure safety and security. If a card is lost the owner can ask the bank to block the payment. In this way he does not lose any money.

5. To obtain a durable form of money. Plastic money is more durable than paper notes.

Answer 2

India is moving towards a computerized insurgency. The transition while drastic has been in cards for quite a while now. Post demonetization, there has been a free for all in the brains of the overall population with respect to the entire digitization handle. We have seen a noteworthy lump of our populace grasping this computerized change. 

- No more heavy wallets: 

In the event that you choose to go cashless, you can dispose of those massive wallets. Store your money in the bank and join the millions who are getting a charge out of the simplicity of advanced exchanges using credit cards, debit cards.

- Ease of exchanges: 

When you get hang of the advanced installment and transaction system, you are certain to end up plainly an aficionado of internet shopping. A standout amongst the most praised advantages of going cashless is the simplicity with which all the installment exchanges can be performed. 

- Easy approach to track spendings: 

On the off chance that you are one of the individuals who gets perplexed by your unfilled financial balance toward the finish of the month at that point going cashless may act the hero enormously. You may no more need to stress where all your well-deserved cash went toward the finish of the month. 

- Stay inside your financial plan: 

As prior stated, the SMS trail after each exchange encourages you to monitor your spendings. In any case, on the off chance that you take a gander at it from an alternate perspective you will find this likewise causes you to remain in your financial plans. 

- Less Risky: 

Money once stolen barely ever returns. The cash is lost until the end of time. Yet, in the event that you get robbed of your debit or credit, you can without much of a stretch block them remotely and be guaranteed that you will confront no loss of cash. 

- Cleaner and Greener: 

While this reason may not sum much, but rather going cashless contributes to a cleaner and greener nation. More individuals joining the cashless revolution would mean a diminishment in the volume of paper cash to be produced.