https://padlet.com/vishnupurushu008/3lc05lyf5t0z Cashless Economy it is about demonitization en-us 2016-12-27 09:59:52 UTC 2024-07-15 15:37:17 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Alarmclock.png vishnupurushu008 https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144814080 We are the members of tech club.

We collected information in our School about Available of bank account and Un available bank account in this Survey we came to be conclude in our school 99% students have bank accounts. And without bank account they didn’t taking admission also.

 We studied the use of mobile banking and now we create awareness among our School students and people about the usage of mobile banking.

 We Trained to our family members and our neighbors about Online banking now they are no how to utilize It.

We learning more and more about Mobile banking and Online banking...We are the members of tech club. 



]]> 2016-12-27 10:16:13 UTC https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144814080 vishnupurushu008 https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815279 Open a bank account if you don’t have one already.
Set up your online account.
Choose a secure username and password.
Set up your contact information.
Learn your way around the portal.
Out of paper statements.
Use online bill pay.
Apply for lines of credit or loans through the online portal.
Check for special offers or messages in the portal.
Transfer money between accounts.
Use a mobile banking application.
Stay aware of your surroundings when banking on your smart phone in public.

]]> 2016-12-27 11:07:52 UTC https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815279 vishnupurushu008 https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815297 Like :- Paytm , freecharge , My bank My mobile My wallet .
   U P I app (Unified Payment Interface)
      It's a payments system. You could use UPI to transfer money between friends and family or to pay your landlord, or to make a payment at a shop, or to buy something online. And its available 24x7, even on Sundays and holidays.
The UPI rollout started last week with 19 banks.


]]> 2016-12-27 11:08:56 UTC https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815297 vishnupurushu008 https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815323 Make use of mobile banking.
 Make use of Internet banking or Online banking.
 Make use of App Banking like online shopping marts Pay tm, Free charge, Snapdeal , filpkart , Amazon ,  ebay etc..,
Use of Ola cabs and uber cabs instead of use public transports.
Install Banking Apps like UPI , Trupay And My bank, My mobile , My wallet From Google play store only.
Avoid using online banking on public Wi-Fi.
Our suggestion is to use adhar for money transaction.
Increase in Online Transactions thus helping Fin- Tech Startups like Pay tm, Free charge etc.
Make cash transactions of a higher amount in cheque.
Mobile banking
     Mobile banking services may include direct deposit of checks using your device's camera, paying bills, sending money to another person, transferring credit card balances.
Online banking
    Banking online allows you to securely bank anytime and anywhere you want as long as you have access to       the internet. You can use  your computer to check your balance, transfer money and pay bills on the go .]]> 2016-12-27 11:10:16 UTC https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815323 vishnupurushu008 https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815360 Citizens are standing in queue for Exchange their old 500 and 1000 note in banks .
Citizens are standing in front of ATM s to draw a money for their daily needs.
There is no money in ATMs.
Lack of Deposit machines.
There is no change for 2000 rupees note in public places.
ATM machines are fully filled with 2000 notes only.
Labourers are did’nt getting salary by Demonization of 500 and 1000 notes.
Citizens wants to change for their 2000 notes for their daily needs.
Decease in the sales of household items.
Domestic market experiencing loss.]]> 2016-12-27 11:11:51 UTC https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815360 vishnupurushu008 https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815371 The liquidity squeeze caused by demonetisation will be negative across sectors with high level of cash transactions.
Real estate, jewellery, retailing, restaurants, logistics, consumer durables and luxury brands, cement and some segments in retail/SME lending space will be facing short term instability
Companies with high level of debt will face more pressure and can face loan defaults.
There will be an added replacement costs of currency.
We cannot ignore the increased cost of operating 6.ATMs need to be refilled more often and also it will be a huge burden on banks.
It is very difficult to create a cashless society as more than 50 percent of Indian population.
It will be very difficult to make cash transactions of a higher amount. ]]> 2016-12-27 11:12:37 UTC https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815371 vishnupurushu008 https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815392 It  Directly affect the corrupt practices.
People who are holding black money  will not be able to exchange without  penalties.
Enemies of the country which are involved in terrorism will not be able to continue this.
The smuggling of arms and dealing with the terrorist will not sustain further as all of the money will be on record now.
The Banking system will improve towards a cashless society.
Cashless society will increase.
Banking System will get a boost,
collection of Tax via Black Money
It will also reduce government liability.
It will also reduce tax avoidance.
Complete curb of Fake Currency .

]]> 2016-12-27 11:13:42 UTC https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815392 vishnupurushu008 https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815418 The RBI manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934.
 In India 85% of peoples are depending  Cash or money.
 In India only 7% of peoples have using digital banking.
Less than 5 percent of population in India had access to such notes and most banks never had such currency notes, demonetisation did not have a big impact on the country.
By using Indian 500 and 1000 notes our enemy countries like Pakistan , Afghanistan are doing Terror activities.
Demonetisation is surely hampering the current economy and will continue to do so in the near term and will also impact India’s growth for the coming two quarters but will have positive long lasting effects. ]]> 2016-12-27 11:14:26 UTC https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815418 vishnupurushu008 https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815485 There are multiple reasons why nations demonetize their local units of currency.
To combat corruption.
To  discourage of using cash.
Eradicate fake currency.
Fight tax evasion.
Elimination of Black money .
Promote a cashless economy.]]> 2016-12-27 11:17:54 UTC https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815485 vishnupurushu008 https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815525 Demonetization is the act of stripping a currency unit of its status as legal tender.
Demonetization is necessary whenever there is a change of national currency.]]> 2016-12-27 11:19:21 UTC https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815525 vishnupurushu008 https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815539 The announcement was made Prime minister Narendra Modi in an unscheduled live televised address at 8:15pm on 8th November In this announcement, Modi declared that use of all 500 and 1000 banknotes would be invalid from midnight of the same day and announced the issuance of new 500 and 2000 notes in exchange for old notes. However, the banknote denominations of 100, 50, 20, 10 and 5 remained legal tender and were unaffected by the Policy.]]> 2016-12-27 11:20:19 UTC https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815539 vishnupurushu008 https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815551 To Study and analyze the problems of              demonetization Indian currency, and create awareness among the people about currency ban.]]> 2016-12-27 11:20:48 UTC https://padlet.com/vishnupurushu008/3lc05lyf5t0z/wish/144815551