What Do You Mean By Cashless Economy?

Cash has been the most important aspect in our lives which helps us in buying goods and services we want. This type of currency has been used thousands of years ago and is still used. Physical currency has a lot of liquidity that enables the person to buy without any real restrictions.

What is Cashless Economy?

A Cashless economy is the phase used when the country uses the digital means to transfer payments to each other account instead of the physical cash or coins Cashless economy help the country to keep the cash flow and increases the growth of the country. India being the cash dominant country is now developing the infrastructure to accept the Digital means of payment which in turn acting as a fuel to the country growth. Demonetization is one of the best moves by Modi government that made the digital means popular among the citizen also the internet speed increase from 3G to 4G for affordable rates is another reason.

Benefit of Cashless Economy

Cashless economy provides a lot of benefit that are as follows-

·         It contributes in country growth

·         It prevents tax evasion

·         It helps in keeping the money in the banking system which increases the loan and also affects the inflations rate at some level.

Drawback of Cashless Economy

There are also some drawbacks of the Cashless Economy and are as follows-

·         Bank account or digital wallet is mandatory for which you need to have a device with internet

·         Liquidity is limited to the account transfer limit available to your account

·         For every transaction you need to pay some fee which makes it costly

How India can become Cash less Economy?

India has taken some necessary steps to make the economy cashless which made the country global superpower dream a boost. International markets have seen the potential of the Indian market and the Indian consumer which made the country reputation and dominance in the global market a established component.

Component of Cashless Economy

Mobile Banking and Internet Banking

Mobile banking is a banking that enables the use of banking service by using the mobile device with internet connection. It provides a lot of services like Bank Account balance check facility, fund transfer etc. Internet Banking is different in terms of the usability meaning Net banking provides all the service that the bank offers whereas the Mobile banking provides a limited access to the service.

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Holi Celebrations 2019

Holi is a Hindu festival and is infamous for beings called as the “Festival of Colors” which rightfully goes with the concept and celebration methods of the festivals. In this day all the institutions are closed to celebrate the festival institution like bank holiday 2019, government offices etc. Holi is celebrated to make the best use of the time as the festival Holi also indicate the beginning of the summer after the cold summers. The festival is of two days and are as follows-

·         Choti Holi

·         Holi

When is Holi Celebrated?

Holi is celebrated at the beginning of the summers that is somewhere between the end of the February and March. In the year 2019, the celebration of Holi will be celebrated on 21 March 2019 and choti Holi on 20 March 2019.

How Holi is Celebrated?

Holi is festival of color and is celebrated with colors only. Holi offers a lot of

Choti Holi

Choti Holi also known as Rangwali Holi or Dulhandi is falls on a day prior to the Badi Holi or simply Holi. In this celebration, a holy fire is burnt in the middle and singing, dancing and other rituals are performed around the fire. It is symbolic of burning the evil of the society, the evil within. The legends goes back to the story of Hiranyakashyap who was a evil king who ordered the soldiers to kill his son who does not consorted to call his as a god and instead call the supreme Lord as Vishnu. On numerous atempts to kill prahalad ( Evil King Son ), now ordered Holika his sister to enter the fire with Prahalad in his lap. Holika was blessed with no destruction from fire but with the blessing of Lord Vishnu prahalad was  unharmed by the fire and holida was burnt alive. From that day on ward the tradition of Holika Dahan came into practice signifying the victory of good over evil.

Holi

Holi is celebrated as a victory of good over evil and symbolizes that Good always wins. Holi is celebrated with colors, sweet, thandai and bhang. Holi is a part where everyone dances, drinks thandai, eat sweets like gujiya, ladoo etc. Holi is celebrated with fullest of joy and happiness.

Happy Holi!

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