Question

Write your view supporting the need for cashless transactions today using poin 1.Convenience 2. Curbing black money 3. Preventing tax evasion 4. No risk carrying cash 5.Saving paper 6.Preventing illegal transaction​

Answer 1

Answer:

MARK ME AS BRAINLIEST

Explanation:

As the country moves towards a cashless environment after demonetisation, the initial awe and confusion have given way to a flurry of concerns. Will the emphasis on online transactions provide convenience and tangible benefits or just add to stress and additional charges?

To incentivise the move towards a cashless economy, the government has come up with a rash of discounts and freebies on digital transactions. But will these be substantial enough and, along with other benefits, counter the higher risk of identity theft once the currency notes are back in circulation? What are the gains and drawbacks of financial digitisation? Here’s a look at what may be in store for you.

Answer 2

Cashless transaction is need of the hour

Cashless transaction is need of the hour in this sense that it minimizes black money transactions. Cashless transactions means all the transactions done will be on record. Black money has been a big problem in our country. Black money transactions encourage corruption. Businessmen, corrupt politicians, bureaucrat often condone transactions in return for bribe and financial gains. These transactions are done using cash money, which in 90% cases is black money and which is used for anti- national activities.  

Besides, cashless transactions are convenient, transparent, saves paper, and eco-friendly.  

In order to make cashless society, Indian Government took many steps. Digital India movement was started, BHIM (Bharat Interface for Money), UPI, Internet Banking, etc. The number of transactions done using digital tools has risen many times over. This has led to considerable reduction in corruption.  

Now most of the Indians have Digital Bank account; people use their debit cards more often. The day is not far when almost all transactions will be cashless. This will make India corruption free. Then India will also become one of the most advanced countries in the world.  

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