Plastic money is used to transfer money to another bank account for services and or goods received. The thick pieces of plastic cutlery will need to shredded at the composting site to encourage rapid biodegradation but this can happen automatically. They can come in many different forms such as cash cards, credit cards, debit cards, prepaid cash cards and store cards. The importance of plastic recycling education seattle pi. Technology has changed the way we deal with money giving us more convenience and easy access to funds from anywhere. The plastic bottle recycling rate in the uk is about 45%, which. This means that more the use of plastic money, more will be the income tax returns an offer that is hard to ignore. We need to drastically improve our recycling habits both at home and in schools and workplaces. Review of literature p manivannan 20 in his research paper plastic money means less payment of cash checking system that any use of plastic money the measure of a luxury. A case study of rainbow towers group of hotels rtg article pdf available june 2016 with 3,214 reads how we measure reads. Relevance of plastic money, study based on faridkot dist.
Credit or debit cards made it easier to buy things. Paying by credit card is also a good way of keeping tabs on where all our money keeps going. An analytical study on use of plastic money in india. The economic benefits of recycling and waste reduction wastewise case studies from 3 a brief look at the economics of recycling while mandatory recycling has been the law in new jersey since 1987 there are still some businesses and organizations. Banking has evolved a long way from the days of the medieval moneylenders counting coins on the bench to the present scenario, where it is hard to trace the trail of money from the beginning to the end. Importance of the manufacturing industry bizfluent. For example, cash cards, debit cards, credit cards, prepaid cards, and store cards. Cash cards a card that will allow you to withdraw money directly from your bank via an authorised teller. The significance of plastic money to the hospitality industry. While making cash payments, it tends to get difficult to keep a track of anything but the largest bills. Zimbabwe had no access to plastic money facilities and therefore transacted mainly using cash and mobile money.
The economic benefits of recycling and waste reduction. Importance of plastic and usage in daily life essay and. To study consumers reasons for preference of plastic money over hard cash. Every bank in india needs to function under the regulations and guidelines set by the regulator. Card issuer company has to make their advertisement more effectively to attract more number of people. However, plastic money has its share of issues that one must be careful about. A study on the importance and popularity of plastic money in aluva doi. Okay ive come up with some, but more help would be great. According to stanford university, a ton of recycled plastic saves 7,200 kilowatthours of electricity, or about enough energy to run a household for seven months. The most important thing is it will be coll to be free from the central banks or the fed.
The manufacturing industry is responsible for producing goods. Commodity money relies on intrinsically valuable commodities that act as a medium of exchange. Plastic money, debit card, credit card, significance, bank account. A slang phrase for credit cards, especially when such cards used to make purchases. Plastic money definition of plastic money by the free. Charge cards laid the groundwork for debit and credit cards. Moving money around and protecting large sums of cash could become a thing of the past. Study of merits and demerit of plastic money based on. Donate old magazines to hospitals, libraries or charity.
The uks overall recycling rates for everyday waste are still below the eu target of 50%. According to experts, plastic usage has gone on a long way in reduce the dependence on oil. What are the benefits of using plastic money cashless. Meanwhile, fiduciary money depends for its value on the. Plastic money aka polymer money is made out of plastic and has formed an important part of our daily life these days. Convert scrap paper into memo and telephone message pads. Companyissued charge cards can be found as far back as the early 1900s. The answers provided by cason kim appear to hit the most immediate benefits so i wont repeat them here. Plastic money free download as powerpoint presentation.
Modern technology is used for digital transactions. 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. Quite often referred to as plastic money, it conveniently. Although fully degradable cutlery costs about four times as much as conventional plastic utensils, the reduction in time spend separating out plastics from food waste and,second, reducing landfill. Plastic money definitely provides an alternative in some cases and compliments cash as a medium. With the rapid expansion and exponential growth in the technology field, the use of plastic money and the need for a cashless society has evolved to a great extent.
Plastic money or polymer money, made out of plastic, is a new and easier way of paying for goods and services. Analysis the use of plastic money in hyderabad city, sindh province. Ive seen both want and abundance of money in life, and i can say one of the most depressing times in life was when i was without money. I need 34 pages on plastic money a current necessity. The cashless society, where clumsy and expensivetohandle coins and notes are replaced by efficient electronic payments initiated by various types of plastic cards is a tantalizing. Carrying a lot of cash on you can be cumbersome, risky and sometimes, you run short of it, just when you most need. Despite the fast progression in the adoption of plastic money especially in the tourism sector the. Find, read and cite all the research you need on researchgate. In addition to reducing the need for oil, plastic recycling saves the energy needed to produce new materials.
Suggestion that requires for plastic money industry is that insurance and other security should be available for the security of plastic money. Now we dont have any need to carry money in a large amount. One of the major causes of deforestation is paper and this is where plastic money is better than paper money as it reduces deforestation. A study on impact of usage of plastic money in india. When you visit a foreign country, you may need to buy local. The plastic portion of this term refers to the plastic construction of credit cards, as opposed to paper and metal of currency.
Plastic recycling has become a thriving industry in modern times with the waste being directed to the landfill. Recycling and waste reduction a guide for the workplace. The seven advantages of plastic money called as the credit. In eshopping, merchant should create trust and loyalty to customers which influence to purchase on. Manufacturing can also include the building of infrastructure, such as roads and facilities for producing and distributing water and power. The plastic is not porous which means they do not absorb moisture and dirty a huge benefit in hot, humid countries. The use of a debit card in this manner may have a daily limit, with the maximum limit being the amount of money on deposit. Plastic money has brought a revolutionary change in the economy. A study on the importance and popularity of plastic money in aluva. Pdf the significance of plastic money to the hospitality. The number of innovative products for making payment has developed after the privatization and globalization. Fiat money, on the other hand, gets its value from a government order. Without money, life is often difficult and painful, and even more for a man. These cards mainly just kept customers loyal to the company.
Due to the technological revolution in financial sector, the payments in banking system have undergone a tremendous change. These cards can be used to buy things from the market. Pdf analysis the use of plastic money in hyderabad city. Yes, the advantages of plastic money over cash has made it a best friend of many. Plastic money its technical and monetary importance. Benefits for a merchant merchants too will receive tax benefits for. Importance of plastic money for the economy 1409802 plastic money has revolutionised the economy. Plastic money its technical and monetary importance educba. Plastic bank notes are made from a polymer, and have many advantages over the traditional paper notes. Money, money everywhere but is there really any to actually spend.
The study sought to investigate the significance of plastic money to the hospitality sector with the rainbow towers group of hotels as a case study. Analysis the use of plastic money in hyderabad city, sindh. Money dictates the flow of human living in the modern world. Chargit chargit was the first actual bank card and was issued in 1946. Pdf the study sought to investigate the significance of plastic money to the. Money one of the most important factor for living life. 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. The present paper makes an attempt to understand relevance of plastic money and its. Need a project on plastic money management paradise. Plastic is also used to capture the solar energy in order to. Some pos terminals allow the user of a visa or mastercard debit card to choose whether the purchase is a credit or debit purchase. The four most relevant types of money are commodity money, fiat money, fiduciary money, and commercial bank money.
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. Money, ricks argues, is not just the cash in your pocket or the balance in your checking account. With a history of plastic money, you cannot ignore charge cards. Rethinking financial regulation, professor morgan ricks argues that the government should reclaim control over money creation. Peter, a young mba graduate joins a large software firm as a business development executive. It all started with a simple credit card that allowed you to make purchases today and pay later. A credit card is sometimes called plastic money or just plastic. A study on the importance and popularity of plastic money. Through a credit card or debit card you can purchase anything from anyplace without spending money on fare. What is dematerialization demat with the age of computers and the depository trust company, securities no longer need to. Plastic money or polymer money, made out of plastic, is a new and more natural way of paying for goods and services. The importance of plastic money in todays scenario. A debit card used in this manner is similar to a secured credit card. There is no need to carry big bulks of cash in the.
Lenders like our credit card reliance and have cooked up many ways to help you get the most from your credit card. This was largely due to lack of plastic money facilities among rural service providers, lack of adequate knowledge on importance of plastic money, low income levels and lack of confidence in the overall financial system. 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. The term plastic money refers to the use of technology to facilitate digital transactions that can be conveniently carried out without having to visit the banks every. But in the case of credit cards, our credit card slips and our monthly statements clearly tell us where all our money keeps disappearing. The money portion is an erroneous reference to credit cards as a form of money, which they are not. Businesses need to store the money, get more when they run out, and deposit cash when they have too much on hand. Plastic money refers to the hard plastic cards which are used instead of actual bank notes. As a good couple of generations have become accustomed to give into our impulses of must have it purchases with credit cards and paying for it later, and now the piper has come calling and wants his money now that piece of plastic as that binding guarantee repayment created havoc to individuals and companies alike. Informative report of demat account need and importance.
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