Heya !!
Give an essay on Power of plastic money
Answers
With the beginning of the civilization, mankind felt the need for some means by which he could buy and sell the things of daily use. This led to the development of currency. Earlier , we were using coins made of copper,silver and gold . Thereafter , paper currency came into use.
Now coins made of two or more metals are also being used. But the use of paper and coin money has its own limitations . Coins are heavy and cannot be used for making payments of even a few hundred rupees . On the other hand, paper money gets soiled very soon and is inconvenient to make large payments.
Plastic Money is the latest invention for making transactions. Plastic money refers to the 'Debit and the Credit Cards' which are used for monetary transactions in place of cash.These cards are considered boon as they are convenient to carry around as we do not have to carry huge huge amount of cash for big transactions.
Apart from the convenience that plastic money confers , it has also become the new trend and status symbol also. On purchasing any goods and services , instead of paying through cash, the debit cards are swiped in the machines and the payment is accepted directly from the bank account.
ATM cards are of much advantage . Through ATM cards people can withdraw money at any time. ATMs of all the banks are now installed at small distances for convenience.
Cards which carry the Master or Visa affilation are more widely accepted across the country. Global credit cards are valid even outside India. Carrying plastic money to any part of the world is possible .
Thus, advantages of these cards are many, but behind the glamour of using these cards, lay the bitter truth of its disadvantages also.
Besides, Plastic Money can prove to be a boon only, if we use it with precaution and sensibly..
Therefore, it can be concluded that the use of plastic money is an excellent facility. It saves our time and precious energy. Besides, our government is also benefitted as it has not to print paper currency which gets soiled very soon. Moreover government can keep a check on black money which is good for the economy of the country.
Answer:
Hey mates
Here is your answer
With the beginning of the civilization, mankind felt the need for some means by which he could buy and sell the things of daily use. This led to the development of currency. Earlier , we were using coins made of copper,silver and gold . Thereafter , paper currency came into use.
Now coins made of two or more metals are also being used. But the use of paper and coin money has its own limitations . Coins are heavy and cannot be used for making payments of even a few hundred rupees . On the other hand, paper money gets soiled very soon and is inconvenient to make large payments.
Plastic Money is the latest invention for making transactions. Plastic money refers to the 'Debit and the Credit Cards' which are used for monetary transactions in place of cash.These cards are considered boon as they are convenient to carry around as we do not have to carry huge huge amount of cash for big transactions.
Apart from the convenience that plastic money confers , it has also become the new trend and status symbol also. On purchasing any goods and services , instead of paying through cash, the debit cards are swiped in the machines and the payment is accepted directly from the bank account.
ATM cards are of much advantage . Through ATM cards people can withdraw money at any time. ATMs of all the banks are now installed at small distances for convenience.
Cards which carry the Master or Visa affilation are more widely accepted across the country. Global credit cards are valid even outside India. Carrying plastic money to any part of the world is possible .
Thus, advantages of these cards are many, but behind the glamour of using these cards, lay the bitter truth of its disadvantages also.
Besides, Plastic Money can prove to be a boon only, if we use it with precaution and sensibly..
Therefore, it can be concluded that the use of plastic money is an excellent facility. It saves our time and precious energy. Besides, our government is also benefitted as it has not to print paper currency which gets soiled very soon. Moreover government can keep a check on black money which is good for the economy of the country.