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. Top 10 advantages and disadvantages of gst tax in india. Im not saying that cards are not useful because of these drawbacks. Plastic bumpers absorb shock, plastic dashboards and door panels are a little kinder on your head during a wreck, and plastic fuel tanks minimize explosion risks. They can come in many different forms such as cash cards credit. Old wine in a new bottle according to the experts, terms such as gst which includes cgst, sgst, and igst is nothing but just a new name in. A study on the importance and popularity of plastic money in. Peter, a young mba graduate joins a large software firm as a business development executive.
Dec 16, 2017 introduction plastic money aka polymer money is made out of plastic and has formed an important part of our daily life these days. This articles deals in general about the main merits and demerits of polymer money. The main merit of an indirect tax is that it touches all income groups. 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. It is an economic system where the price mechanism and economic planning are used side by side. They can have the advantages of on atms, that too sitting at their doorsteps. Jun 29, 2018 we are reading the advantages and disadvantages of modern technology. The term plastic money refers to the hard plastic cards which are used instead of actual bank notes. A study on the importance and popularity of plastic money. Based on experiences of peoples introduction introduction to plastic money plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services. Merits and demerits of indirect taxes economics discussion. Conclusion of merits and demerits of plastic money. Atm is operated by plastic card issued by the bank which is called as atm card, with it special features. 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.
Therefore, customers are well aware of plastic money and its usage, and have been using plastic money for a long time. There are several advantages of plastic money as seen in the above illustration. In previous times mobile phone utilized to be a craze, emblem of money and achievement but nowadays even children find it a necessity of. Money one of the most important factor for living life. Here is the topic about advantages and disadvantages of exams full essay in points for students.
Conclusion study merits demerits plastic money jobs. Sukhwinder kaur assistant professor sant baba bhag singh memo. Firms consider plastics easier and cheaper to manufacture as compared to other materials such as metals and stones because theyre produced. The usa is now in its 42nd year since nixon abolished gold backing, and is in the fifth year of a slow noisy collapse. For example, cash cards, debit cards, credit cards, prepaid cards, and store cards. It is hard to break down which means that the landfills and seas being affected by plastic will. Please note a few points before we look at the disadvantages of plastic money. Plastic money has provided us with the ease of conducting transactions in our. The disadvantage being there are still many among us who do not know how to use a plastic card wisely. Pvc is most commonly used in plumbing and drainage applications, although its also sold in the form of pellets or as resin in its powder form.
Read this article to learn about the meaning, features, advantages and limitations of multinational corporations mncs. With the introduction of social media and smartphones, more and more people prefer to interact online rather than meeting their friends and family. Underlying evilsthough it may look all trendy and flashy to own plastic money especially credit cards, you may be surprised to know, owning it is extremely harmful and risky as well. Humans need to interact in order to survive and grow. I remember the anxiety and stress i had when i had to give an exam. It also provides the benefits of anywhere and anytime banking. They can be cheaper than taking surveys which requires a lot of time and money. Its tough, resilient, and excellent at absorbing shock. Advantages and disadvantages of plastic full essay in points disadvantages of plastic.
The 2nd objective was to study customers preference of plastic money over. But, it was not very popular among indian consumers at the time of its introduction. As it is said, money can serve as a good slave, but not as a good master. However, plastic money has its share of issues that one must be careful about. To examine the perception of users and member establishments towards plastic money, primary data. Automated teller machine atm introduction advantages and. The benefits are enormous if you leave out the lowincome group, which will face a huge challenge, says kartik jhaveri, director, transcend consulting.
It is hard to break down which means that the landfills and seas. The term plastic money can refer to plastic credit cards, debit cards and eftpos cards, and in many countries, this is the only common meaning, but in some countries, it can refers to the banknotes notes or bills that are made out of a type of plastic that is is floppy and easy to bend, like paper, but it is waterproof, and difficult to tear. Plastic money or polymer money, made out of plastic, is a new and more natural way of paying for goods and services. There are disadvantages also, which are now the concern of rbi. Atm does most of the functions of cashier in the bank. What are the advantages and disadvantages of credit cards.
Its one of the main reasons cars are able to get safer and safer everyday. The issuer of the card grants a line of credit to the consumer or the user from which the user can borrow money for payment to a merchant or as a cash. Merits and demerits of plastic money based on experiences of. Cell phones are a much quicker and more effective way to move information. Thus, technology has converted the traditional brick and. This study was conducted to know about the different types of plastic money and to evaluate relationship between the educational background and users of plastic money. Its also a safer and easier spending option when you are travelling. Introduction meaningdefinition needs types evolution of money merits and demerits conclusion referance. Merits demerits plastic money based experience people. Conclusion of merits and demerits of plastic money 1500542 plastic money is the special term used for the hard cards in banks instead. Polyvinyl chloride pvc is a popular thermoplastic thats odorless, solid, brittle, and generally white in color.
Charge cards laid the groundwork for debit and credit cards. Merits and demerits of plastic money based on experiences. Purchase and cash advance interest rates can be as high as 22% apr, so you can end up paying hundreds or thousands more than you initially charged in interest if youre unable to make repayments each month. Merits and demerits of plastic money based on experiences of peoples.
It is hard to break down which means that the landfills and seas being affected by plastic. The disadvantages of using plastic products sciencing. The issuer of the card grants a line of credit to the. Advantages and disadvantages of plastic essay in points.
The money as medium of exchange played an important role by having put to an end the demerits of barter system. An abstract on plastic money pdf download by sasidhar karetimarch 01, 20 0. But if we observe the present day problems we find that money also played an important role in creating and promoting these problems. The electronic record keeping that comes with credit cards make it easy to track your spending and identify fraud. 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. It is meant to the used in place of coins and banknotes for the purpose of making electronic payments of small amount fsa, 2001. Dec 10, 2017 introduction to plastic money plastic money or polymer money, made out of plastic, is a new and more natural way of paying for goods and services. 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. Atomic bombs and similar inventions are good when it comes to defending a country but these are some inventions that can destroy humankind. Introduction to plastic money plastic money or polymer money, made out of plastic, is a new and more natural way of paying for goods and services. Some of the drawbacks or risk related to cards are. If you carry a balance from monthtomonth, youll pay interest charges. Advantages and disadvantages of modern technology essay. Conclusion of merits and demerits of plastic money 1500542 plastic money is the special term used for the hard cards in banks instead of normal paper money.
Through this research, i came to know about so many new things about these lovely polymerized pieces. Would impact the realstate market gst tax would swell negative remarks on the realestate as perceived, gst will increase the cost of the new homes by 8% which in turn will cease the demand by 12%. The study also tries to find out the role of member establishments in the progress of plastic money in india. Plastic money free download as powerpoint presentation.
The automated teller machine atm is a machine which facilitates basic banking activities viz, withdrawal of money, depositing money and checking of ones own balances etc. 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. The proposed plastic currency notes will reduce the. Direct tax, like income tax, is imposed on persons having a certain minimum level of income. The yield line theory is found useful for slab with. These cards mainly just kept customers loyal to the company. Like conventional money, plastic money can function as a medium of exchange, a unit of account and a store of value. Unbacked money has always collapsed within forty years. Relevance of plastic money, study based on faridkot dist. Plastic money definitely provides an alternative in some cases and compliments cash as a medium. This existed during the town economy stage or during the premachine age. Chargit chargit was the first actual bank card and was issued in 1946.
Introduction plastic money aka polymer money is made out of plastic and has formed an important part of our daily life these days. These cards can be used to buy things from the market. In the beginning iron, copper, tin, bronze, nickel, lead, gold, silver etc were used. Introduction the development of information technology and emerging a number of new innovations are taking place in the area of retail payments known as electronic money allaham, 2009 or plastic money. Plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services. Read this article to learn about the mixed economy. 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 and demerit of plastic money based on. Companyissued charge cards can be found as far back as the early 1900s. It allows its holder to buy goods and services based on the holders promise to pay for these goods and services. The use of plastic money raises many questions on technical security, control and audit systems. Cards plastic money is not a complete replacement for cash.
The disadvantages are just to make you aware of any risks, threats, etc so that you can use it carefully. Questionnaires are really inexpensive when they are handled properly. The use of plastic products has increased significantly in the recent past, with many enterprises joining the industry and many more varieties of plastics being made. A credit card is a small plastic card issued to users as a system of payment. Let us make an indepth study of the merits and demerits of indirect taxes.
But governments have always reneged on the deal and slipped the people counterfeit money. The conclusion highlights the common problems that market makers in all of the countries faced, but it also emphasizes the differential successes and sometimes different paths and sequences of events that accompanied the development of card markets in the eight countries. The findings reveal that majority of respondents use plastic money in one form or another and out of them, they have been using it for over 3 years. The foremost advantage of this system is that everybody enjoys economic freedom as one can spend ones income according to ones wishes. Plastic money has not only provided us with convenience, but it has also eliminated the inconvenience that is caused in carry cash. Technology has changed the way we deal with money giving us more convenience and easy access to funds from anywhere. Jun 29, 2018 advantages and disadvantages of plastic full essay in points disadvantages of plastic. Plastic money was introduced in the 1950s and is now an essential form of ready money which reduces the risk of handlings. Benefits for a merchant merchants too will receive tax benefits for. Technology has changed the way we deal with the purchase of goods and services in daily life. A study on the importance and popularity of plastic money in aluva. Plastic money is a term that is used predominantly in reference to the hard plastic cards we use everyday in place of actual bank notes. Yes, the advantages of plastic money over cash has made it a best friend of many.
Most retailers accept credit cards and they are pretty much required for online purchases. Jul 06, 20 if the money is backed by something of value it is ok. Introduction of new weapons and chemicals is also a part of disadvantages of modern technology. Cell phones are having a great leverage in our reside and are very convenient to keep with us. Merits and demerits of mobile phones merits and demerits. A single question or a topic can be asked to many at the same time without any kind of delay.
Exams or examination are actually a standard set by every school and college to assess the performance and knowledge of students in a given area. Of plastic money based on experiences of peoples introduction introduction to plastic money plastic. If we look at the history, years ago the weapons used caused huge destruction. To study the growth and performance of plastic money in india, reserve bank of india annual and other reports, project reports of related financial institutions and other published materials were referred. Introduction in india, banks are increasingly using information technology for improving the quality of customer services and also for better marketing of their products. A mixed economy is a golden mean between a capitalist economy and a socialist economy. Plastic money was introduced in the 1950s and is now an essential form of immediate payment, which reduces the risk of handlings a huge amount of cash. Questionnaires can be of different types, written, postal, telephone and many other methods. Producers have complete freedom to invest in any business or trade.
It was in the 1950s the concept of plastic money came into being. 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. Summary and conclusion 193 the study has been made to know the spending habit patterns of consumers and why they are not adopting the plastic money in their daily lives. It all started with a simple credit card that allowed you to make purchases today and pay later.
Plastic money its technical and monetary importance educba. Its currently ranked as the third most widely used plastic in the world behind polyethylene and polypropylene. Plastic money also keeps track of the transactions as they are incurred along. This means that more the use of plastic money, more will be the income tax returns an offer that is hard to ignore. Merits demerits plastic money based experience people jobs. You will no longer need to carry wads of cash, plastic cards, or even queue up for atm withdrawals. Study of merits and demerits of plastic money based on experience of people points. Irregular shapes, and support conditions, openings, varied loading. The main advantage of plastic money is that it avoids the necessity to carry huge cash and is also difficult to mutilate.
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