Credit and debit cards have changed the way we live. Is it possible to either subsidize or incentive the use of card and reduce the use of cash. What are the demerits and advantages of using plastic. Plastic money had fascinated me from a long time and i was curious to go into the details about its usage,this project gave me ample oppurtunity to do so. Plastic money also keeps track of the transactions as they are incurred along. The use of plastic money raises many questions on technical security, control and audit systems, most favoured technology to detect frauds and operational problems, foreseeing and plugging the weak spots of the cryptography based system. A study on the importance and popularity of plastic money in aluva. With a history of plastic money, you cannot ignore charge cards. But if we observe the present day problems we find that money also played an important role in creating and promoting these problems.
Advantages the durability, strength, low cost, water and chemicals resistance, welding. These cards mainly just kept customers loyal to the company. Nov 15, 2016 the surgical strike of the incumbent indian government to demonetize inr 500 and inr has raised debates not only in india but across the globe. Theft is not quite such a huge problem as cards can be reported. Plastic money has not only provided us with convenience, but it has also eliminated the inconvenience that is caused in carry cash. Like conventional money, plastic money can function as a medium of exchange, a unit of account and a store of value. Plastic money was introduced in the 1950s and is now an essential form of ready money which reduces the risk of handling a huge amount of cash. In general, plastic money is defined as reference to plastic cards used instead of the usual bank notes and it may come in different forms. Merits and demerits of plastic money based on experiences. So let us check it out some advantages and disadvantages one by one. Both abhishek menon and prithvi chatterjee have written answer to your question quite correctly.
It gives me immense pleasure to take the opportunity to all the people who are directly or indirectly involved in the completion of my project based on study of merits and demerit of plastic money based on experiences of people. Plastic money is a term that predominantly refers to the hard plastic cards, that we use everyday, in place of bank notes or coins. The answers provided by cason kim appear to hit the most immediate benefits so i wont repeat them here. Merits and demerits of plastic money based on experiences of peoples. A study on impact of demonetization on increased use of plastic. Perception of card users towards plastic money this chapter analyses the perception of card holders towards plastic money in india. Government can perhaps get into arrangements with companies like master card, visa or. Peter, a young mba graduate joins a large software firm as a business development executive. However, plastic money has its share of issues that one must be careful about. They help immensely, and many people couldnt imagine being without them. With a credit card, youre spending money you dont necessarily have yet. The use of plastic money raises many questions on technical security, control and audit systems. Plastic money was introduced in the 1950s and is now an essential form of immediate payment, which reduces the risk of handlings a.
The plastic money can be in the form of credit cards or debit cards. This environment article will help you to understand the advantages and disadvantages of deforestation essay in points. It was introduced in the 17th and 18th centuries and has now become the most popular form of money. The issuer of the card grants a line of credit to the. Plastic money is one of the most common reasons for it. It is meant to the used in place of coins and banknotes for the purpose of making electronic payments of small amount fsa, 2001.
Like the credit cards, debit cards, charge cards, diner cards, club cards, and the affinity cards. Most of us use plastic money today, but it is necessary that we clearly understand the merits and demerits of it. Chargit chargit was the first actual bank card and was issued in 1946. Dec 29, 2014 about some of the advantages and disadvantages of plastic in brief. The security and secrecy of the data on the one hand for the prevention of frauds and the possible run on e money are the major problems of banks and the rbi. Debit cards are like digitized versions of checkbooks. It was the fact that thirty years ago, if you had a credit card and many people didnt you probably had only one, but now days the use of plastic money has become so common that according to the stats today, the typical american adult has four or five cards and uses them in one out of every four transactions.
Search for jobs related to merits demerits plastic money based experience people introduction or hire on the worlds largest freelancing marketplace. What are the advantages and disadvantages of money. Plastic money gives us an easy and extended purchasing capacity which results in an extra and unwanted buying. Demonetization, currency, plastic money, debit card. The plastic is not porous which means they do not absorb moisture and dirty a huge benefit in hot, humid countries. Initially, due to the safety problem of carrying costlier metals, like gold and silver, from one place to another, the merchants used to carry paper receipts against metallic money. This article gives you a brief idea of the main advantages and disadvantages of. What are the important merits and demerits of paper money. Only then we will be able to use cards carefully and wisely. This research is an encomium on the charisma of plastic money, its usability and affordability while they. Technology has changed the way we deal with the purchase of goods and services in daily life. The loss which a country suffers from the wear and tear of metallic money is also avoided. It is hard to break down which means that the landfills and seas being affected by plastic will. Plastic money or polymer money, made out of plastic, is a new and more natural way of paying for goods and services.
Use custom search function to get better results from our thousands of pages use for compulsory search eg. Paper money also picks up dirt and stains more easily than plastic money. If the money is backed by something of value it is ok. It has made it too easy for us to buy things we normally could not afford and in such a scenario it is important to understand the merits and demerits of plastic money. A study on the importance and popularity of plastic money in aluva doi. Writing sample of essay on a given topic merits and demerits of plastic money when we think of plastic money the first thing we think about are credit cards. A credit card is a small plastic card issued to users as a system of payment.
Plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services. These books contain exercises and tutorials to improve your practical skills, at all levels. Yes, it is plastic money in the form of debit or credit card that you carry in your wallet which gives you an easy access to your money. Plastic consumes very less energy for recycle compared to glass.
Technology has changed the way we deal with money giving us more convenience and easy access to funds from anywhere. Download our plastic money merits and demerits project ebooks for free and learn more about plastic money merits and demerits project. Lenders like our credit card reliance and have cooked up many ways to help you get the most from your credit card. I have a suggestion to increase the use of plastic money. Study of merits or demerits plastic money based on. Plastic money, unlike paper money, will not burn easily and can resist higher temperatures than paper money. It is hard to break down which means that the landfills and seas. How did all start, in history you might have learnt batter system where goods were traded for goods, then came an era where gold and silver coins came into being, then we modernized we stared using paper notes and coins for trading of goods and services. Jungles, trees, wild life and deforestation have many pros, cons, merits, demerits and some benefits and drawback. Paper money formed the next stage in the evolution of money. Pdf customers perceptions about plastic money towards. Plastic money its technical and monetary importance educba. A credit card is a plastic card same as a debit card with a magnetic strip issued by a bank or equivalent authority or a financial company with an option by which you can borrow funds at the point of sale. We collected most searched pages list related with merits and demerits of plastic money pdf file and more about it.
Currency notes, therefore, are the cheapest media of exchange. Study of merits and demerit of plastic money based on. Apr 20, 2018 this environment article will help you to understand the advantages and disadvantages of deforestation essay in points. At present people are being asked to pay extra to use cards in retail outlets. Credits cards cost much more than other forms of credit, such as a line of credit or a personal loan, in case you are unable to pay them on time. Study of merits or demerits plastic money based on experiences of people need and importance pdf 6158440. Plastic is strong and water and chemical resistant. Merits demerits plastic money based experience people jobs.
Advantages and disadvantages of plastic full essay in points disadvantages of plastic. What are the benefits of using plastic money cashless. Study of merits and demerits of plastic money project. Through this research, i came to know about so many new things about these lovely polymerized pieces. Nov, 2014 both abhishek menon and prithvi chatterjee have written answer to your question quite correctly. It all started with a simple credit card that allowed you to make purchases today and pay later. Plastic money is the generic term for all types of bank cards, credit cards, debit cards, smart cards, etc. Credit card reliance and have cooked up many ways to help you. Conclusion study merits demerits plastic money jobs. A study on the importance and popularity of plastic money. As it is said, money can serve as a good slave, but not as a good master. Plastic money definitely provides an alternative in some cases and compliments cash as a medium. Jul 06, 20 if the money is backed by something of value it is ok. Merits and demerits of plastic money based on experiences of.
There are disadvantages also, which are now the concern of rbi. Plastic bank notes are made from a polymer, and have many advantages over the traditional paper notes. There are several benefits of using debit cards as it the most popular way for cashless transaction. Plastic money are the alternative to the cash or the standard money. Companyissued charge cards can be found as far back as the early 1900s.
Plastic money free download as powerpoint presentation. Plus point of plastic money is that you wont have to carry your cash around all the time. A study on the importance and popularity of plastic money in. Promoting downstream plastic processing and allied industries, we have. Advantages and disadvantages of having a debit card. What are the advantages and disadvantages of plastic money. And undoubtedly a huge number of indians are using them as a more of payment. It allows its holder to buy goods and services based on the holders promise to pay for these goods and services. Study merits demerits plastic money introduction jobs.
Advantagesno need to carry a large amount of cash which would be unsafe. Money one of the most important factor for living life. Moreover, consumer debt has been recorded a significant factor for a consumer to face financial. As like advantages the first disadvantages of plastic is the strong and durability is beneficial when it comes to protection but these same features turn evil when it comes to decomposition. Easy access to money in the situation of instantaneous want for money, one can withdraw debit the demanded cash amount from the account and. Now coming to your concern how dependent should should be people in india. Easy to handle it prevents to carry out heavy wallets, hence, reducing the chances of theft. Unbacked money has always collapsed within forty years. If a country uses paper money, it need not spend anything on the purchase of gold or minting coins. However, as with most things there are good points and bad, some of these are listed below. Get details of merits and demerits of plastic money pdf file. Pdf plastic moneycredit cards charisma for now and then a. Various products of plastic are available for household and other purposes. Charge cards laid the groundwork for debit and credit cards.
We have some specific objectives like discover perceive advantages of plastic money to the customers, identify perceived disadvantages to the customers and. It depends on what type of plastic for instance for plastic bags. The money as medium of exchange played an important role by having put to an end the demerits of barter system. About some of the advantages and disadvantages of plastic in brief.
Are you looking for merits and demerits of plastic money pdf file. Dec 22, 2016 download our android app to study anywhere, anytime. The usa is now in its 42nd year since nixon abolished gold backing, and is in the fifth year of a slow noisy collapse. Advantages and disadvantages of plastic essay in points. Debit and credit cards offer more than a way to access money without having to carry around cash or a bulky checkbook. Plastic money was introduced in the 1950s and is now an essential form of ready money which reduces the risk of handlings a huge amount of cash. Why plastic money could be your new best friend incentives by the modi government. Merits demerits plastic money based experience people. Plastic money has provided us with the ease of conducting transactions in our.1090 437 1549 1398 935 1133 741 820 995 777 144 131 999 402 79 1096 1537 777 998 563 133 319 943 262 1533 1524 1217 833 225 1089 1522 1526 947 181 40 937 270 331 141 379 1295 69 865 867