This existed during the town economy stage or during the premachine age. What are the advantages and disadvantages of plastic money. Merits demerits plastic money based experience people. Plastic money or polymer money, made out of plastic, is a new and more natural way of paying for goods and services. If you are clever, you can make use of the cards but not everyone can be clever.
Disadvantages of plastic negative effects of plastic. In many cases, photo card can also be used as identity card. 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. Gold standard receives the confidence of the public much more easily and quickly than any other standard. A study on the importance and popularity of plastic money. With a history of plastic money, you cannot ignore charge cards. Nov, 2014 both abhishek menon and prithvi chatterjee have written answer to your question quite correctly. Recycling plastic plastic recycling is a process in which old plastics is turned into another more useful products. Study of merits or demerits plastic money based on. It analyzed the long term and short term effectuations of demonetization. So just play carefully with the tiny plastic thing that is placed in your. Hence within limits the issue of paper money comes very handy to the government at the time of dire need.
Like conventional money, plastic money can function as a medium of exchange, a unit of account and a store of value. These cards can be used to buy things from the market. Charge cards laid the groundwork for debit and credit cards. It is also the number one trash of humans in landfills which took a lot of space. Cvv card verification value or csc card security code is the three digit number usually mentioned at the back of a mastercard or a visa card. We show that whenever money and credit coexist, equilibrium is. Peter, a young mba graduate joins a large software firm as a business development executive.
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. With the drawbacks of commodity money and with economic advancement of the people, metals came to be used as money. Through this research, i came to know about so many new things about these lovely polymerized pieces. The term plastic money refers to the hard plastic cards which are used instead of actual bank notes. For example, cash cards, debit cards, credit cards, prepaid cards, and store cards. Study of merits and demerits of plastic money based on experiences of people. Easy to handle it prevents to carry out heavy wallets, hence, reducing the chances of theft. It is meant to the used in place of coins and banknotes for the purpose of making electronic payments of small amount fsa, 2001. Easy access to money in the situation of instantaneous want for money, one can withdraw debit the demanded cash amount from the account and. Plastic money gives us an easy and extended purchasing capacity which results in an extra and unwanted buying. Advantages of plastic money there are several advantages of plastic money as seen in the illustration above. 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.
Plastic money free download as powerpoint presentation. So for those who are not well aware of the cards and its disadvantages should always be careful to avoid themselves being in trouble. The use of plastic money raises many questions on technical security, control and audit systems, most favoured technology to detect frauds and operational problems, foreseeing and plugging the weak spots of the cryptography based system. Yes, it is plastic money in the form of debit or credit card that you carry in your wallet which gives you an easy access to your money. Sometimes, these data are not available altogether. In situations like job loss or health emergencies credit cards can play a vital role by providing you with that extra money that you are desperately in need of. A study on demonetisation in india and its effectuations. This is to certify that the thesis entitled an evaluation of business deals using plastic money in kerala by ms. These are fake and can fraud you for money and other things. It all started with a simple credit card that allowed you to make purchases today and pay later.
Plastic is flexible transportation and storing plastic is easy and safe plastic takes up less energy to recycle some advantages and disadvantages of buying plastic packaging are. A credit card is a plastic card same as a debit card with a magnetic strip issued by a bank or equivalent authority or a financial company with an option by which you can borrow funds at the point of sale. When you use a credit card, the issuer puts money toward the transaction. It also listed out the features of the new currencies, merits and demerits of demonetisations. Need a project on plastic money management paradise. However, plastic money has its share of issues that one must be careful about. Primary data and secondary data economics discussion. Like everything, plastic money also has its own merits and demerits. Plastic disadvantages negative effects of plastic today, you can hardly look around you and not spot some item that is made entirely from plastic or has some plastic ingredient. Plastic money its technical and monetary importance educba. It analyzed the long term and short term effectuations of. Technology has changed the way we deal with money giving us more convenience and easy access to funds from anywhere. The seven advantages of plastic money called as the credit.
If the money is backed by something of value it is ok. When a photo is imprinted on the card, it helps to identify the user of the credit card and is considered to be safer. A slang phrase for credit cards, especially when such cards used to make purchases. Credit cards provide you with security and protection in comparison to cash. Credit cards, variants of plastic money, are used as substitutes for. This means that more the use of plastic money, more will be the income tax returns an offer that is hard to ignore. It is hard to break down which means that the landfills and seas being affected by plastic will have to suffer for a long time. Discuss need a project on plastic money within the managerial. In this fast age life of every human who is using mobile, tablet, computer or laptop is meaningless or bore. Plastic debris poses a huge threat to our ecosystem, filling up our oceans and poisoning wildlife. There are disadvantages also, which are now the concern of rbi. 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. But governments have always reneged on the deal and slipped the people counterfeit money. What are the advantages and disadvantages or merits and.
Plastic money definitely provides an alternative in some cases and compliments cash as a medium. 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. If your computer is connected to the net, in this case hacker can come and stoles your file easily from your device. The study also tries to find out the role of member establishments in the progress of plastic money in india. Cosmetic surgery has become one of the most common events in the lives of people of all age groups, after. What are the demerits and advantages of using plastic. Study of merits and demerit of plastic money based on. They were concerned about an increase in counterfeiting with the release of colour photocopiers that year. These cards mainly just kept customers loyal to the company. Conclusion study merits demerits plastic money jobs. Unbacked money has always collapsed within forty years.
Global cards can be used as credit cards instead of cash and traveler cheques while traveling abroad to foreign countries for. Project report on plastic money in india free download as word doc. The usa is now in its 42nd year since nixon abolished gold backing, and is in the fifth year of a slow noisy collapse. Since plastics can be considered indestructible or simply does not break down easily. An entrepreneur is a person who creates a brandnew business, bearing most of the risks and enjoying most of the rewards.
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. This only proves that from its inception up to now plastic has managed to become popular building material of millions of useful items, but it is not perfect. These are the data which are collected from some secondary source i. The entrepreneur is often seen as an innovator, a source of the latest ideas, goods, services, and businessor procedures.
Benefits for a merchant merchants too will receive tax benefits for. The money as medium of exchange played an important role by having put to an end the demerits of barter system. Gold and silver coins are accepted even by foreigners, as they have got some intrinsic value. Any time you use a debit card to buy something, money is deducted from your account. 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. These data can be obtained though skilled persons only. The seven advantages of plastic money called as the credit card. Now coming to your concern how dependent should should be people in india. This is a loan you are expected to pay back in full usually within 30 days, unless you want to be charged interest. Jul 24, 2015 43888714 plastic money full project 1.
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. They can come in many different forms such as cash cards credit cards debit cards prepaid cash cards instore cards 3. Hsc projects hsc projects, state board, mba projects. But if we observe the present day problems we find that money also played an important role in creating and promoting these problems. For extremely valuable discussions and feedback throughout this project. Companyissued charge cards can be found as far back as the early 1900s. Plastic money also keeps track of the transactions as they are incurred along. Promoting downstream plastic processing and allied industries, we have. There is a lot of risk in carrying a large amount of cash in your wallet. 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. These are collected for the first time by an investigator or an agency for any statistical analysis. 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.
Plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services. Many peoples and website on internet that are not real and not trusted. Advantages of plastic surgery the advantages of plastic surgery are no doubt dramatic, like the ability to use a hand, remove skin cancer or close an open wound, or subtle like cosmetic or skin surgery or rhinoplasty for a young woman etc. Chargit chargit was the first actual bank card and was issued in 1946. Jul 06, 20 if the money is backed by something of value it is ok. These are the data which are collected from some primary sources i. Credit card reliance and have cooked up many ways to help you. As for credit cards, they will give you money as and when required and if you lose it or if it is stolen you can always save yourself from further loss by blocking your card immediately. Oct 29, 2017 this is a complete essay in points about using internet in which well discuss all the advantages and disadvantages of internet for students. Advantages of plastic money there are several advantages of plastic money as. As it is said, money can serve as a good slave, but not as a good master. In the beginning iron, copper, tin, bronze, nickel, lead, gold, silver etc were used. This eliminates the need to carry a huge load of cash that is risky and inconvenient as well. It was the fact that thirty years ago, if you had a credit card and many people didnt you probably had only one, but now days the use of plastic money has become so common that according to the stats today, the typical american adult has four or five cards and uses them in one out of every four transactions.
Money one of the most important factor for living life. In this project, we interview an entrepreneur named falguni read more. Merits demerits plastic money based experience people jobs. Powerpoint presentation on money, paper money, plastic. 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. What are the advantages and disadvantages of money. We should wisely use it keeping all the below points in mind. Data which are gathered originally for a certain purpose are known as primary data.