Question

Prepare a speech on the ADVANTAGE OF CASHLESS TRANsaction

Answer 1

In today’s term, a cashless society is described as an economic state whereby financial transactions are not conducted with money in physical form (banknotes or coins) but rather through the transfer of digital information. Advocates saw the potential in digital transactions as it allows for quicker transactions regardless of location and not limited by time which empowers individuals with access to financial services. This prompted small businesses and basic trades to occur in developing areas where banking infrastructures and robust regulations were lacking. Digital payments allow for full traceability of transactions, pointing tax regulators in the right direction to crackdown on tax evasion, security forces to track terrorism funding, money laundering, corruption, and many other financial crimes(although there are ways around it through the dark web, and cryptocurrencies-Monero). Going cashless also helps in reducing cost towards maintaining the circulation of paper currency and allowing the government to have better control over the flow of money when in times of crisis intervening to implement damage control initiatives.

Answer 2

Explanation:

SPEECH ABOUT CASHLESS TRANSACTION

Speech

Respected Principal, Teachers, and my dear friends, I am going to talk today about cashless transactions. Cashless India is the latest move by the Indian government to encourage the use of technology to handle and monitor cash flow. When people start using e-banking and e-commerce methods to solve their payment issues, the flow of black money will automatically be controlled. The main intention is to make people put all their earnings into the bank and pay their taxes diligently so that the nation’s economy is systematized and does not suffer. This is the most effective way and the fastest method to stop the spread of black money.

Respected Principal, Teachers, and my dear friends, I am going to talk today about cashless transactions. Cashless India is the latest move by the Indian government to encourage the use of technology to handle and monitor cash flow. When people start using e-banking and e-commerce methods to solve their payment issues, the flow of black money will automatically be controlled. The main intention is to make people put all their earnings into the bank and pay their taxes diligently so that the nation’s economy is systematized and does not suffer. This is the most effective way and the fastest method to stop the spread of black money.Government encourages cashless transaction and as a result, customers can avail the benefits in taxes. The government transfers the amounts directly in the accounts of the beneficiaries resulting in fewer chances of fraudulent transactions. As people shift to cashless transactions, the government will not need to print more currency notes. This will help the government to stop the flow of fake currency and also save trees.

Cashless transaction is the need of the hour, and everybody should adapt to this change at the earliest. Once we take this change in a positive manner, India will move a step forward to be a better nation globally.