Skip to main content

Featured

Son lies to leave tuition class

Showing his utter irresponsibility, the father asked his elder son, why did you not move to the Computer Class in the evening? This particular class takes place at a roadside building in a famous area of Jajmau Town.   Humbly, the elder son replied with all the sense of confidence that there was no class on that particular evening. Having listened carefully, his father was overheard saying, Oh! There was no class today. However, the sharp-minded son lied to his father with great confidence.  Though Generation Z willingly endeavours for the right cause, this particular case has proved that lying is also a great quality inherent in them.  Is it instantly acceptable to skip the computer tuition class just to avoid the falsehood altogether? In actuality, the young chap did not venture to the Computer tuition class for his friend, who did not go because of his severe headache.  He normally accompanied him, so he made this significant pretence at the time.  Makin...
Post a Comment
Read more

Why we still carry cash in a UPI World


Although it may seem paradoxical to carry cash in a world where UPI is the norm, there are several reasons why we still prefer to make payments through the UPI method. Even though UPI has been widely adopted in our everyday use, certain small businesses, retailers, and merchants may still refuse to take UPI payments. 

Amidst these apparent circumstances, the cash can be a backup choice in every clear way. Using cash in a UPI environment involves seeing a balance between the practicality of currency and the ease of digital payments at last. 

Due to the prospect of UPI transaction costs reducing merchant profit margins, the cash is continually liked for more or less small-value transactions. It has also been said that the average UPI transaction size has actually dropped over time, according to surveys, as more consumers are found to use UPI for their smaller transactions.

During power outages or in remote areas with subpar internet connectivity, cash can be a reliable alternative. For some instant purchases, some people choose to pay with cash to reasonably track their precise spending or adhere to a budget. 

When digital payment methods are not available or unexpected needs arise, cash might be used as an emergency fund, as we used to envision. Hard cash still makes up a sizable amount of consumer spending in our country, even with UPI's benefits. 

As of March 2024, cash made up about 60% of consumer spending, according to research completed by an RBI economist. However, since the fatal COVID, its percentage has been steadily declining.

Even with online UPIs' benefits, hard cash still accounts for a substantial portion of the consumer expenditure in the length and breadth of our country. 

The success of India's UPI system has also been acknowledged by the International Monetary Fund. We have considerably decreased our dependence on cash payments. In India, UPI now hogs other electronic retail payments with over 18 billion transactions processed monthly. 








 


Comments

Post a Comment

Popular Posts