My world of wonders💕

Money is the fundamental need of an economy. In a country like India, it is a fact of no doubt that the it is an immensely cash-concentrated economy. With the change in time and technology, a new term was introduced called as the Cashless Economy. Cashless economy is used to describe the situation wherein the flow of cash doesn’t exist within the economy and that all the transactions are undertaken through electronic channels. This can include cash transfer through credit and debit cards, direct debit, and electronic clearing and payment systems such as Immediate Payment Services (IMPS), National Electronic Funds Transfer (NEFT) and Real-Time Gross Settlement (RTGS) in India.  Then, we come across the question, why is cashless economy necessary? What changes does it bring about? Let's have a look -  When it comes to cash, an obvious fact is the significant amount of time and money is needed to print the currency. According to some reports, RBI has spent Rs.32.1 bill...

R apid developments in the technology has made human civilization easier in the 21st century. IT has changed every aspect of our lives from the way we live to the way we work. Within a blink of our eyes the important documents can be exchanged which was much more difficult in the earlier days. We no longer have to stand in long queues to book a ticket. The latest Industry Revolution 4.0 has been focusing more on extensive use of technology. The world has come very closer. You don't have to travel abroad or to any other locations for the meetings. Every presentation in the corporate world can be done by just a simple conference call. The concept of work from home, has also advanced during this period of a global pandemic. It has made the people realize that there is no need for having multi-storey buildings to run offices. The normal working of the IT industry can be done without the requirement of such huge infrastructure. But all this raises a question in my mind, does t...