The central government has demonetized the Rs.500 and Rs. 1000 notes to make India free from corruption and black money. The main idea behind this concept is to make India a cashless society to battle against black money and corruption. But, is it easy to establish a cashless society. Yes, it can.
This is because, there is already a cashless village in our country. It is Akodara, a small village in Gujarat. When a small village can turn into a cashless community, why not the whole country? It is possible to turn the entire country into a cashless society by initiating a less-cash society. We can enjoy numerable benefits of a cashless society if we support it. The benefits are as follows.
1. One of the major key elements to demonetize the Rs.500 and Rs. 1000 is to weaken the terrorist groups. A cashless society is undoubtedly a terror-less. With the help of fake currency notes, terrorism and many other subversive activities are taking place in India.
To put an end to these activities permanently, the central government has decided to make our country a cashless society. Thus, cashless economy acts as an antibiotic to the fake currencies.
2. Management of the paper money is very high. Therefore, cashless society boosts the economy as it eliminates the cost of printing paper money to a great extent.
3. Cashless society reduces the crimes, robbery and pick-pocketing. Thus, it provides security to the Indian citizens.
4. It increases our responsibility. When we have very few currency notes in our hands, we don’t dare to spend carelessly.
5. The usage of the payments cards offers us convenience and security.
With all these compelling advantages, most of the citizens are supporting the implementation of cashless transactions.