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