Good morning to the teachers and students present, today I am going to talk about cashless India. The idea of cashless transactions is a part of India’s digitalization. Only with the introduction of more advanced technology and access across the nation will digitalization be achievable. The world has made significant technological developments, which are the sole foundation for going cashless. For instance, Bitcoin had no value until a few years ago. Transactions are now considerably simpler than they were before because of the use of cell phones. Transactions can be finished quickly. With more cashless solutions available and technology evolving, customers can be comfortable that their money is in a secure location as our country moves toward digitalization.
The idea of a cashless India is fantastic and will assist in the development of our nation. But achieving this requires a lot of things. ATMs and bank infrastructure are both necessary. It is important to promote the electronic delivery of services for health, education, finance, justice, law enforcement, and agriculture throughout the nation.
In addition, those who lack literacy will be unable to comprehend the idea and mechanics of online transactions. The entire nation has to get intensive training and education about this idea. In significant part, poverty and illiteracy still exist in our nation. These are the main obstacles standing in the way of India becoming a cashless society. Although desired, a cashless society is challenging to establish. By addressing the issues, we can make our nation more developed. Thank you, and have a great day!