Importance of plastic money

2020-02-21 23:39

There are many benefits of cashless economy. Less Cash management: Since plastic money lowers the cash handling hence it automatically lowers the wear and tear of cash which in turn is a boon to the economy as the government spends in making of that note.Debit cards. Debit card is the real, real plastic money; similarly credit card is plastic credit that you receive from a financial institution for various reasons in exchange of interest that you own the institution for utilizing their money. Debit cards can be used for shopping, paying for fuel, grocery, withdrawing money importance of plastic money

Why We Use Plastic Money. By: Ajeet Khurana: Thanks to credit cards we can purchase anything we like at any time these days. This is such a change from the older days when we had to first check whether cards were accepted. The world is now a changed place. Today, everybody, from retailers to lenders to aircraft carriers, accept credit cards.

Plastic Money. The movement away from cash or the physical exchange of money to the use of credit cards and debit cards using electronic currency requires an elaborate underlying network to facilitate the transfer of information and funds. The operation of this system still is The importance of plastic money in todays scenario. Finance The importance of plastic money in todays scenario. 9. 95. Or download with: a doc exchange. About the author. Level Expert. About the document. Published date Language documents in English Format. Word. Type thesis Pages 69 pages Level Expert Accessedimportance of plastic money What Are The Advantages And Disadvantages Of Plastic Money And Paper Money? Currency. Advantages of Paper Money: The printing of paper money is easy to print with low cost and saving the What Is The Importance Of Capital Market And Money Market? Economics. Basically capital markets are the stock markets and the bond markets.

These cards are known as plastic money. The usage of plastic money (card) has increased in the mode of payment of huge amount and hence broth there are lots of different types of plastic money that can be used anywhere in the world. importance of plastic money Advantages of Plastic Money. Risk of Loss or Theft minimized: In case of cash there is a high risk of losing cash and a chance of cash getting stolen. However, in case of debitcredit card you can report the matter to the bank and block the card to avoid misuse. Plastic money is the alternative of cash or the standard 'money Plastic money is used to refer to the credit cards, debit cards that we use to make purchases in our everyday life. Plastic money is much more convenient to carry around as you do not have to carry a huge some of money with you. Jun 29, 2008 Best Answer: Plastic money is of 2 type. 1. Credit Card. 2. Debit Card. The first Plastic money is CREDIT CARD. Age of Plastic Money. Banking has evolved a long way from the days of the medieval moneylenders counting coins on the bench to the present scenario, where it is hard to trace the trail of money from the beginning to the end. Importance of plastic in daily life Plastic belongs to the category of polymers that consist of large number of molecules joined together. It can be imparted different shapes and sizes according to the requirements and specifications.

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