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State with the reasons whether you agree or disagree with the following statements:

Plastic money can play an important role in eradicating corruption in India.

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Yes, I agree with the statement. 

More and more use of plastic money can help in eradicating corruption in India in the following ways: 

  • Every transaction detail is recorded by the bank when the transaction is done through plastic money. 
  • None of the money transactions are illegal as these take place through banks. 
  • At the international level, all the conversion of Indian currency into dollars or Swiss dollars can be recorded with transactions done through plastic money. 
  • It’s only when transactions take place in cash, bribery and other illegal activities take place.
  • But the use of plastic money is easy to use, easy to keep records, and hence will help in removing corruption.

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asked Dec 24, 2021 in Economics by RidhiKumari (35.7k points)

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