Study Of Merits & Demerits Of Plastic Money Based On Experience Of People.
Answers
Plastic money is Debit Cards and Credit Cards.
The best thing in keeping Credit card is in an emergency when we do not have money CC helps us the most.
The disadvantage is banks are getting benefits of we using CC but not us.
We use CC to buy things even sometimes without thinking because what come in mind is have to later and not now .
Plastic money is defined as the money which is not available to us in paper form. It is defined as the money which is stored in the banks which can be used by us via credit cards, debit cards net banking and various mobile wallets.
The advantages of plastic money are: we are not required to carry cash every time. Hence it reduces the weight of the Wallet also reduces the risk of getting money on hand.
Disadvantages of plastic money are: most of the people in India are not tech savvy and they cannot handle plastic money like the can handle physical money.