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Group discussion Are digital payments secure enough for the Indian economy to go cashless? – HR interview questions with answers Part B
1.In today’s world, mobile has become a part of almost everybody’s life. There may be the cases when people may forget to carry their wallet with them but they always carry mobile with them. So in those situations, the mobile wallet will be a help to them. It is not only making transaction fast and easy but also helping our country in becoming cashless to stop black money problem. But along with these pros, there are some cons also of this concept. Not all people trust digital transaction due to security reasons. And also there is less awareness about this concept. So on increasing the security of these digital payment apps and also spreading awareness about it will one day make India a cashless country.
2. Yes, I do agree that digital transactions and payments in India will promote our GDP rate. We Indians are lagging in digitalization like online money transfers and certain criteria. Our NDA govt is encouraging digital payments and they have recently introduced BHIM app for any sort of online banking. And nowadays many people are using paytm app for quick net banking and I suggest it is very trustworthy and safety app through which we can make our payments and transactions in an easy way. But people who are living in most of the villages and who are illiterate are unaware of these types of digital banking. So my conclusion is that every individual who knows these things should encourage digital payments and explain for those people who are unaware of it.
3. Yes, I agree that because after demonetization act the digital payment was the only thing which was helping in the economy of India in its early period.
4. It is the first and more important step to do any good work. Because without safety is very dangerous. So safety must required firstly.
Now India is on the way to development hence its must to take the risky decision to start a new thing in our country to most helpful to get easily anything. Take give example for cashless. Due to cashless, you can save more time and money. Not stand in queue to pay money. There are no of example.
I said only TO RUN WITH WORLD, OTHERWISE, you STAY PERMANENTLY IN BACK ERA.
5. In my opinion, the digital payments is good for our nation because India is a developing country. It is a fast and easy transactions to pay our payment. And this help for our GDP growth. It will be beneficial for our future. The digital payments are like net banking, paytm, NEFT, UPI, etc. But in rural areas it is difficult to understand about digital transactions because they are not aware and illiteracy. So it is a innovative idea to go for cashless economy. Because nowdays no person can carry cash in every time, every where. So persons & government Go to cashless economy and increase our online transaction & payments. But it is not digital payment secure enough for Indian economy to go cashless because our technology is not good and safe, hacker is hacking our system. With this help people are aware this payments, digital marketing, make in India.
Atleast, it is a good for us and banks also provide digitally payments, and system is upgraded as new technology come.
6. In my opinion, Technology is improved and a lot more changes happen. And digital payment method is very useful in nowadays to transfer the money anywhere in the world without standing on line. With the help of digital payments we can save our money because lot more cashback offers are given by online sites like redbus, amazon etc. One or two years back for electricity bills, phone bills and recharges we go and pay the bills. But with the help of digitalization, we can pay the bill in the home through phones. At the time of digital payments, we should follow some instructions given by the government. Our debit/credit card details do not tell to the other persons. Government give the awareness about how to use to the urban people. Because most of the people in urban places they don’t know how to use this.
7. According to me, digitalization is important. For everyone either an individual besides in rural or urban and the initiative which is taken is completely in the favour of citizens because we are already years. Backward from other growing countries in many fields and completely disagree those who think that this is not the right time to be digitalised because steps is to be taken its good taken now instead of getting backwards for some more years from. Otherwise, countries aa like peoples are not used to all this but within some coming years, they would completely adopt it. And 68 % population of the total population besides in villages but many of them started doing online payments there are an exception but not at that level that we should not adopt it. Its just govt should look that the payments which are made should be secure n safe.
8. In today’s modern day carrying cash for every single thing becomes tedious, using digital money makes the work easier and faster.
It removes the long waiting in question. It makes payment for electric bills, shopping, movie tickets etc much easier.
However, there are some risks in using digital money. But we can not ignore its benefits. In fact, risks are part of life. Digital transactions can be made safer by spreading its awareness among people, not only in urban areas but also in rural areas. The government is trying to improve the Cyber security day by day. Hence it would be possible to make DIGITAL INDIA.
9. In my opinion, according to our current condition, India is not ready to go cashless. Because in digital world it need strong security. Security is main point to make an economy digital. Without tight security anyone can hack accounts. We need to develop technology for this. Another point is illiteracy. In our country many people are not aware about the digital payment. In rural areas there is lack of education so they people can`t aware about digital payment. Like everything has two aspects negative and positive. It has too. Digital payment will made easy cash transaction. Nobody needs to stand in queue for paying bill. In the fastgrowing world people are busy so this is the best way of payment. Cashless payment is our country`s need because India is a developing country. So government should implement many programmes and policy to aware the people about cashless payment mainly in rural area. And cybersecurity should also be developed. So that people have no fear to lost their money and India made a cashless country. .
10. In a country like INDIA where rural population comprises of 68.3% of the total population and internet penetration is around 31% there need to be imparted a lot of awareness and knowledge about the internet and then about the digital payments. It cannot happen overnight but initiatives taken by Government of India to make people know about the advantages of digital payments is on the rise. EX- people can now transfer money to any bank account via their Aadhar cards.
Yet there are hurdles at present for the Indian economy to go cashless.
There is lack of proper infrastructure which is needed for the smoother transaction.
People need to know about security available for safeguarding their money online.
How citizens could prevent against thefts and online frauds.
11. Today is a modern era we all are converting to new and advanced technology.
All things are good for learning like digital payment, digital transaction and so on.
So we can say that yes digital payment is good for all of us because it’s making any work easy and less time.
But before so we should know some basic knowledge about how to do digital transaction it’s mandatory and compulsory so we can take more benefits.
Otherwise, we can be in trouble.
12. Yes, Digital payment is secure for Indian economy because it makes the transaction fast and easy also it is secured as there is no third party interception with it. In India, now people are more literate and educated about banking fraud and if more digital awareness is given to the people it becomes more secure.
13. In my opinion, According to security concerns for digital transactions they are secure if the person has proper knowledge of using it and it also seems an effective way so that people from across anywhere can use the facility and this way they can transfer their money if anyone wants urgently.
For the problem of hacking issues, proper guidance and awareness should be provided mainly to rural areas and the cybersecurity system of India also been working for the prevention of hacking which will make India in coming days to go cashless.
14. In my point of view, digital payment not that much secure in India due to the poor infrastructure of going online. I also point out the scheme happened with the SBI customers, their debit card details has hacked. So if they are not saving form the hackers how we are? I also want to say that we are welcoming the steps occurring by the government for making India digital, this can not happen in one day probably we need good cybersecurity because only poor can understand the value of 1 rupee if he will lose.
15. According to me, digital payment is the easy and fast method to transfer money.
It has overcome the problem of standing in a queue for hours to pay the bill.
Secondly, it has also overcome the issue of time, as in traditional method we need to wait for hours.
If we take an example of online shopping, ticket booking, online recharge, etc. So sometimes, there are exciting offers available, sometimes cash back, etc. So here we get the opportunity to save some money and we are able to pay in budget for what we want.
If we discuss about the security of digital payment, so I think there are two ways so that we can say digital payment is unsafe.
1. We should not expose our personal and account detail to any unknown person.
2. Hacking. It is done in some cases, but still cyber community is working on it to make the better security for online activities.
And the most important thing is that, today thieves are also confused that how to do robbery as there is most people having not physical money with them. And most of the times thieves are illiterate. So we can say digital payment is the best and preferable method.
16. As per my views digital payment is good enough as it saves time. Making payment of the mobile bill, electricity bill, movie ticket and even for recharge of mobile, we have a stand-in queue for a long time. Digital payment makes the work easier way transfer of money etc. Is done with safe and within the time period. On the other hand, as technology is advance there should be proper security from hackers. As we know in urban area digital payment may be used smoothly but on another side, rural area people should also have knowledge about the same. As digital payment save the risk of carrying hard cash.
17. Digital payments should be essential due to which we can save our precious time. Using various e-wallets such as Paytm, Debit card, Credit card etc. Cashles transction are easy to transfer money and it avoid spends hours in the qeue.
But it also has limitation.
1. Nowdays cyber crime such as hacking are increasing rapidly.
2. Together with advantages of cashless wallet increases digital fraud is also increases such as hacking of atm card.
18. As of what we see now, our future is going to be all digital. We all know the advantages, the convenience and the ease of using a mobile wallet for the things we had to stand in line for, be it the electricity bill or the movie tickets or even your mobile recharge. But as our topic of GD goes, do we have the infrastructure required for going completely digital? No, we don’t for now and we all know that. Although it’s progressing rapidly, we don’t have the base required for going complete digital. And it’s not secure too. The latest Aadhar leak can be an example. Personal details of millions of Indian leaked and what happened? It was not even reported properly. The one who reported, got an FIR. Here I want to point out that the system we have is not safe and worst part is it’s not transparent even. Besides there are millions who don’t have access to a proper means of anything, not a proper place to live and no proper food. Even if the digital paymenta were secure enough, this would still be a big issue. More than 90% of transactions in India are cash based. It can’t be changed in a day. It’s a welcome change definitely but as for now, I don’t think India is ready to go cashless. For I believe that it should not something that is forced on the people to do instead it should be something that people want to.
19. In this 21st century where make in India and digital India all play a very important role in the transformation part of the country, we need to give more stress on the part of SECURITY, is it secure enough for the economy to go cashless?
Going cashless is the trend, doing paytm, doing a wallet transaction thats considered as important and easy too.
But we want to remember is regarding the fraudsters behind this online wall. Who can easily crack our online credentials, before we knowing about it all our money will be transferred to Malaysia or Thailand. Most people in India use mobile and computers without proper antivirous and security system which make themselves as prey.
Technology is also not that great in India, but its improving at a good phase, thanks for the techies behind it. If the right and proper technology is not used then it is easy for the online fraudsters to crack and win the situation.
If you want to go cashless make sure that you have the right technology, right security system then go a head. But that is the major issue we face in our country.
20. The efforts made by the Indian government to make India a cashless economy and curb the black money under circulation is appreciable. This also promotes faster payments, better transparency and removes the need to carry physical money. The major threat to this process is “cybersecurity”. The recent theft of 32 million Rupay credit cards online is a live example to show that Indian cyber world is not soo safe. So I agree that even though it is a very good move to make India a cashless economy, this should be done gradually by also improving other infrastructure like cybersecurity and also education poor people to use digital modes of banking.
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