CASHLESS ECONOMY AND TRANSACTIONS
India uses too much cash for transactions. The ratio of cash to gross domestic product is one of the highest in the world—12.42% in 2014, compared with 9.47% in China or 4% in Brazil. Less than 5% of all payments happen electronically. Some studies show that cash dominates even in malls, which are visited by people who are likely to have credit cards, so it is no surprise that cash dominates in other markets as well. A cashless economy is one in the flow of cash within an economy is non-existent and all transactions have to be through electronic channels such as direct debit, credit and debit cards, electronic clearing, payment systems such as Immediate Payment Service (IMPS), National Electronic Funds Transfer and Real Time Gross Settlement in India. Benefits of Cashless economy • Reduced instances of tax avoidance because it is financial institutions based economy where transaction trails are left. • Curb generation of black money. • IT will reduce real estate prices because of curbs on black money. • It will place universal availability of banking services to all as no physical infrastructure is needed other than digital. • There will be greater efficiency in welfare programmes as money is wired directly into the accounts of recipients. • Reduced cost of printing notes, instances of their soiled or becoming unusable, counterfeit currency. • Reduced costs of operating ATMs. • Speed and satisfaction of operations for customers as no delays and queues, no interactions with bank staff required. • A Moody’s report pegged the impact of electronic transactions to 0.8% increase in GDP for emerging markets and 0.3% increase for developed markets because increased velocity of money.
Srishti Jataiwal
What anxiety actually means in my views ?
People with anxiety disorders aren't the only people who experience anxiety; in fact, everyone feels it everyday, they just don't know it. Anxiety is what you feel before a big game or an important test. It's the source of excitement before you go on a ski trip at your favorite resort. It's the butterflies in your stomach on a first date. It's what can prepare you for a big event; it's the rush you feel. Depending on how you interpret this feeling, however, it can be your best friend or worst enemy. People with anxiety disorders get this rush, but deal with it differently. Their mind and body turn this normally helpful emotion into a feeling of helplessness, and don't allow themselves to get motivated. Before big games and important tests, rather than getting inspired to prepare for the event, people with anxiety disorders get the feeling that there's no point in getting ready. They end up concentrating on something much less important because it feels much more comfortable. The rush that usually helps someone deal with a situation becomes the situation they're dealing with. They don't want to feel uneasy so they try and keep their mind off it. The most important thing to a person with this disorder is to get rid of the 'nervousness'; the problem is, the easiest way to do so is to avoid the situation that's causing it. The mind will make subconscious decisions that postpone or even stop people from dealing with the situation. In the moments before a big event, people easily get distracted and find them selves tempted to engage in another activity. Although they might think it's a good idea to go through with their urges, it's really just a distraction to remove them from the situation in order to lower the anxiety.