write atleast 5 problems that can be solved using cashless economy....!!!! pllzzzzz answer it as soon as possible ..plzz...!!
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Reduced instances of tax avoidance because it is financial institutions based economy where transaction trails are left.It will curb generation of black moneyWill reduce real estate prices because of curbs on black money as most of black money is invested in Real estate prices which inflates the prices of Real estate marketsIn Financial year 2015, RBI spent Rs 27 billion on just the activity of currency issuance and management. This could be avoided if we become cashless society.It will pave way for universal availability of banking services to all as no physical infrastructure is needed other than digital.
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a)ALL TRANSACTIONS CAN BE MONITORED
B)REDUCE CORRUPTION LEVELS.
C)WILL ENHANCE CURRENT BANKING SYSTEM IN INDIA.
d)CONVENIENCE OF NOT CARRYING LARGE AMOUNTS OF MONEY IN HAND.
E)PEOPLE CANNOT HOARD BLACK MONEY AT HOME.
B)REDUCE CORRUPTION LEVELS.
C)WILL ENHANCE CURRENT BANKING SYSTEM IN INDIA.
d)CONVENIENCE OF NOT CARRYING LARGE AMOUNTS OF MONEY IN HAND.
E)PEOPLE CANNOT HOARD BLACK MONEY AT HOME.
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