plastic money shall be used to eradicate corruption?
Answers
plastic money shall be used to eradicate corruption?
Many people have credit and debit cards which they use for their day to day purchases. There is a need to develop technology so that everyone uses this method for money transactions.
Now the question that arises here is that how can plastic money help to reduce corruption?
Yes, plastic money can play a very important and in fact a major role in the eradication of corruption in India. These are the reasons that how are it possible:-
● Every money transfer or transaction is maintained and recorded and also the transactions of crores and crores of money cannot go unrecorded. Each official can have only that much of amount that he earns or has saved through his or her earnings.
● None of the money transactions are illegal. As, all the money transfer and transaction happens through bank accounts, none of the illegal money can be transferred.
● All the conversions of the Indian currency into dollars or swiss dollars are recorded and also their amount is recorded if a lot of money is converted.
● The number of fraudulent money practises are reduced as no fake paper notes can be printed as they are not usable.
● All the transactions will be recorded and also payments made in this manner are billed out in order to maintain a proof of the transaction made. Hence this will eradicate the problem of lack of evidence when it comes to transactions made. Many a times, we do not take a cash memo from the shopkeeper although it is the only record or proof that says that we have purchased an item from that shop.