Thursday, 19 January 2017

advantages of cashless economy

advantages of cashless economy
As we all know on 8th of November 2016 was the day when the government of India took a firm decision to move into an era of cashless and digital transaction. 

With the decision of demonetisation, our country has taken its first firm step to move into the world of cashless economy.

As still we have a long way up to go ahead with this new cashless economy, there are many points to discuss about this new born technological way of transaction for a common man.

Here, we will discuss the top 5 advantages and disadvantages of cashless economy. This has brought up with its coming in a developing country like India.

Like there are many pros and cons of demonetisation, there are also pros and cons of cashless economy. But This will really lead India to a super Power.


  This has been the biggest ever advantages of the cashless transaction in Indian Economy. Whenever you will do any transaction I.e. you buy or sell something your tax on that item will be paid automatically and this will be kept recorded in your bank account.Thus, at the end of fiscal year the tax on your whole income and transactions done will be automatically deducted by the income tax department as it will be monitored directly by government and banks.

Thus it will help in reducing tax evasion to a greater extent.

 As of now, the government has solved the fake currency circulation in the market as no older denomination notes are valid now.For now, whatever the notes available in markets are original and genuine as the fake currency is totally strike down out of market. It will take time for wrong doers' to print the fake currency of new denominations again.
So, for now government has sufficient time to take firm action against their people and make the economic market more clear and transparent for its people.

Earlier, many people were keeping money in their home without depositing it into their bank account and the number of these people is quite high as they basically come from that section of Indian society which is called as low middle class and lower class that does not have a bank account. Banks has the most advantages of cashless economy

when there are more cashless transactions then Bank has more Funds every time. 
This becomes an important reason Indian banks are suffering from the NPAs. For cashless transaction the bank come into play as people will deposit their money to banks for their day to day transfer and transactions.


As things are getting cashless, there will be fewer people using cash in paper currency to facilitate their transaction. For every type of transaction you will use Bank as channel to get it done. Now if you are a right person with a good moral character, the bank will open your account but if you don’t have a proof of identity like aadhar card or pan card, they will simply deny opening.
And also on all the bank accounts, the government will keep a watching eye to kill down any misuse of this channel.
The fresh example to this is the example of "stone pelting" in the areas of JAMMU AND KASHMIR where the extremist people pay the students and other people to throw stones at Indian forces. This activity was drastically reduced in the area as people were not having cash in valid denominations to pay for this kind of activity.

The most benefited are the people and common people who do transaction with e-commerce giants like flipkart, amazon, snapdeal etc.
Now, the government is finding ways to make this transaction platform more secure and more reliable in online way.
The government is developing a common platform and a common app like BHIM (BHARAT INTERFACE FOR MONEY) for its common people to make them able to perform online transactions easily.
Thus, every common man is able to do transaction in a very secure manner with every other dealer sitting thousands of miles away from him and gets his product at right price oat right time.

Above were some advantages of cashless economy but there is also adverse effect of these technology.

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Top small Business Ideas that works

Reasons for Business Startup Failure in India

Tuesday, 17 January 2017

Reasons for Business Startup Failure in India

reasons for Business startup failure in India

MAKING AND BREAKING is the parts of any business around the globe.

There are Many Examples of Business startups that do well but Fails. Like Hutch, we chat, Videocon and many more.
What is the story behind these failure? Why some business startups fails in India?

Indian government is on the way to provide them a very handy support. There are different kind of norms relaxation in TAXATION and assisted financial support by implementing schemes like “STARTUP INDIA".

Here we are going to pin up the top 6 reasons to "What are reasons for Business startup failure in India"
Top six Reasons for Losses and Failure of business :

Once you have the idea, it’s important to test its reality check on ground level. Whether the startup ideas will be beneficial for common people around or will it be productive enough to cope up in the market for next two years?
Most of the startup in India and their leaders fail to test the idea implementation technique correctly as required in the buzzing demand and supply market.
You have to be very clear in the basic theme of your idea otherwise you may end up doing something which may not be profitable to the startup. Business Batao is a platform which gives your idea a successful way.

Any idea turning into business requires resources to setup its unit for implementation.
The availability of resources for a new business is very limited in a country like India. You have to pay hefty fees for every resource which can be productive for your business.
Sometimes and mostly, It is very common reason for Business startup failure in India. Where the business leader fails to manage the available the resources well and sinks the business.
This becomes a real problem when you are the owner of a limited budget startup company.

YES, you are right its "paisa bolta hai".
Money is the basic need for everything in this world. This is not limited our own personal needs but also becomes important when accounted in business terms. Also the ultimate aim of the business is to earn profit-that is ultimately money.
Investor hesitates to invest their money in newly started ideas because of risk factor. There are many ways to take loans from financial Institutions. But it is also not so easy for New Business start-ups.

 TALENT is something which gives you an upper hand in every aspect of business. It is greatly required when you are a buzzing startup and also when your startup turns into a million dollar company. Business is all about dealing with people and their minds. So here you have to be a little talented or enough quick to learn the rules of business world quickly. Lack Skills and talent training programme is one reason for business startup failure in India.
Now the question is-where, how and why the talent is required in business?
Talent is required where you have to deal with people for business related matters and many other issues related to it. Some Examples are: purchase of resources, machines and other things required, you have to be very careful and wise as you are the owner of a limited value startup.

Decision making is a process which decides the answer to the question WHAT’S NEXT? Thus, selecting the best course of action from among many alternatives becomes very important for any startup business. It is important for the successful operation of the startup business. All the operational jobs like plan discussion, direction, controlling, are determined by the decision making process.

Reason of business startups failure is wrong decision making.

SO, for making any business idea a successful one, you have to love your work, your idea and almost every part and everything which sums up the business strategy.
Many of the business leaders and ideas have failed due to lack of motivation and love for their business.
You don’t have to be money minded in the initial when you don’t have a well settled business, but side by side with time, be mindful to turn the business idea into a well settled company.

Above were some reasons for Business startup failure in India. For getting consulted and growth contact Business Batao.

Monday, 2 January 2017

50 days of demonetisation pass or fail

50 days of demonetisation pass or fail

50 days of demonetization are passed. On 8th November 2016 Prime-Minister of India had announced the Demonetisation of 500 and 1000 rupee notes. 

Banks Had taken the old currency notes of 500 and 1000 rupees till the 31st December 2016. These can be now submitted only to RBI with the Reason.

Whole India is taking this Decision Very Seriously and people had suffer a lot because of decision. Now we want to know about 50 days of demonetisation Pass or Fail.

Current BJP government Declares it as a Successful Project while all other opposition Parties confirm it as a big Failure.

We will Give you some Points by which you can judge yourself that 50 Days of Demonetisation - Success or Failure 

Points which shows that Fifty days of Demonetisation is successful.

  • All old and fake 500 and 1000 rupee note are out of system.
  • All Money is deposited into Banks that will give the economy a new Power.
  • People are shifting towards Cashless economy which makes it more Strong.
  • Black Money Will be out of the system.
  • Big cash Transactions will be stopped.
  • Terrorist activities will be minimised. these are showing the demonetisation as successful.
  • Big Amount of Black money is declared during this period of 50 days of Demonetisation. 
  • All the Departmentss of Government were active and seize huge black money from corrupted people.
50 days of Demonetisation - Points that Make it Failure

  • Banks had make it adverse. Most of the Bankers make forgery and does not work honestly. Demonetisation was really a Great India Making Project but Some People Make it Failure for their own Pocket.
  • As per Media report about 97% of the Old 500 and 1000 rupee notes had been deposited into banks.
  • about 105 people died due to demonetisation.
  • there is lack of cash in the market due to which Business is affected.
  • Many factories and other Business are closed down. It showing the demonetisation failure.
this is the report on 50 days of demonetisation - pass or Fail.

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Saturday, 26 November 2016

where to use old 500 rupees after demonetization

where to use old 500 rupee note after demonetizationAfter The demonetization of old 500 and 1000 rupee notes
After 30th December 2016 you can not use the old 500 and 1000 rupee note at any place. there is urgency in the country. Whole country is facing the problem of Cash. We want to know that where to use old 500 rupee notes after demonetisation. In India there is cash transaction of about 97% and above that people are pond of holding the Cash in Hand.
Everyone is searching for the alternatives of Exchange of 500 and 1000 rupee note. But after 24th November Rs. 1000 will only be submitted into banks. 500 rupee note will be accepted at many places.
I know you must want to know how to exchange old 500 rupee note or how to convert old 500 rupee note into valid currency after Demonetization Process.

Current Biggest Problem is that there is no exchange of Money now. It can only be deposited in Banks. But there is a chance to use you old 500 rupees note.

Govt of India had announced that there will be no exchange of old 500 and 1000 rupee notes from 25th November.
But one can use old 500 rupees not at following Places 
  • You can pay these to toll Plaza

  • All petrol pumps will accept the old 500 rupee notes till 15th December after demonetization in India.
  • Government school fee can be deposited with these notes up to a Limit of Rs. 2000.
  • You can also pay college fees of states University. 
  • Use old 500 rupee notes for court fees.
  • Make Pre paid Mobile recharges up to Rs 500 
  • Now you can purchase groceries from co-operative stores under State and Central govt. Limit of such transaction is once rupees 5000 only. This will be a great relief after demonetisation. 
  • Pay Railway tickets booking at railway station counters.
  • All government Hospitals will accept the old currency.
  • Water Bill and electricity Bill payment can be adjusted. This will be a place to use old 500 rupee notes after demonetisation in India.
  • Buy Medicines from Medical Stores with qualified doctor's prescription.

  • May not any one have to use at this place but one can use old 500 rupee notes at crematorium grounds.
  • Make Payment against LPG cylinders.
  • Payments towards charge, duty or penalty to be paid to governments as well as municipal with local bodies.
  • You can also use old 500 rupee notes to buy of seeds from nominated state-owned outlets.
Now After 31st December 2016 You can not use old 500 and 1000 rupee notes anywhere except to submit in RBI. With a great step towards Cashless economy and to fight with black money government has introduced Demonetization with a Positive thinking. But there are both advantages & Disadvantages of Demonetization discussed earlier. In my opinion government is giving ample space to use the old 500 rupee notes after demonetisation.

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Friday, 25 November 2016

latest updates on Demonetization Rules

latest updates on demonetization rules
Updates and Rules on demonetization in  india keeps changing.  Major demand of changing is because of Misuse of the exemptions under Demonetisation.

This is not a complete Demonetization In India. Small denomination of Notes up to Rs. 100 are in Use and have legal status. so we have to see Impact and Latest Updates on Demonetization Rules In India 2016.

After two Weeks of Scrapping the 500 and 1000 rupee note in India the conditions are still not Good. There are long queues outside the ATM's and Banks. Business Sector and Public is still not stabilised.

This is Going to be a Big Disadvantages of Demonetisation.

With Consideration of the Problems of Common man, on 24th of November 2016 government had given the 
Latest updates on Demonetization Rules & Process in India .
  • From 25th of November Exchange of old 500 and 1000 rupees note will be closed. These notes can only be deposited into Banks. 
  • Note of Rupees 1000 denomination can only be deposited into banks and will not be considered any where else. 
  • All the National Highway tolls will be free till 2nd of December and from 3rd to 15th of December old notes of 500 can also be accepted there. this is the latest update on demonetization is created to facilitate the public. 
  • From 24th of November people can get cash from BigBazar too with their Credit or Debit Cards. Limit of Cash withdrawal is Rs.2000 only. 
  • Latest update on demonetisation in  india includes the additional Categories where old Rs.500 note will be accepted Till 15th of December. These categories are explained In detail on The Link above. 

  • Foreigners are permitted to exchange the currency up to rupees 5000 subject to get entered in their Passport. 
  • Haryana Govt had announced that all D category employees will get their Rs 10,000 salary in Cash.
Above were the latest updates on demonetisation process in India. Modi Sarkar is doing all the things which he feels to do good against corruption and Black Money. but still the Cash relief is not in the Market because of lesser acceptance of Card and Digital Payments.

We will let you informed regularly the latest Updates on Demonetization rules In India..

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Friday, 18 November 2016

Indian demonetization policy and steps 2016

On 8th of December 2016, Govt of India had taken a historical Decision of Demonetisation of 500 and 1000 rupee note. 
This Decision will be remembered forever of NoteBandi. 

New 2000 and 500 rupee note had introduced.

What do you think how India is reacting on this. what are the problems of Demonetization Indian are facing. What are the Indian Demonetization Policy and steps by Government.

There are many advantages and disadvantages of demonetisation in India 2016. Here we are describing the Indian Demonetisation Policy and Steps.

Indian Demonetisation Policy is that the old 500 and 1000 currency notes are closed and not be a Legal tender from 9th of November 2016. No one can accept this as currency of India except the places allowed by the government. 

Government is preparing the same from a long Time. Earlier from 2014 they helped everyone to open The bank Accounts with JAN DHAN Yojna. People without Identity card can also open the Bank accounts. Then there is a large support on making Aadhar Card. 
Government also announced a self Black Money declaration Scheme till 30th September 2016. This will be a great policy of demonetisation by Indian Government.

Now Whats are the Indian government demonetization policy and steps to make it successful 

  • First policy on demonetisation is that On all Petrol Pumps old 500 and 1000 notes will be accepted.

  • Govt had announced that all Tolls in India will be free till 24th November 2016.
  • From 18th November All petrol pumps will be treat Like ATM's and up to Rs. 2000 will be withdraw through Debit and credit Cards.
  • Old Currency Notes will be Exchanged from Banks and Post offices till 30th December.
  • Earlier There was a exchange Limit of rupees 4000 , Then 4500 and now only Rs 2000 will be Exchanged. This demonetisation policy is made due to excess Crowd out of Banks. 
  • There is no limit of depositing the cash to Banks. No need to worried before depositing your white Income or savings.
  • While you can withdraw up to 24000 only from Banks.
  • Another Demonetisation Policy is that you can Use these notes for Railway Tickets, Aeroplane Tickets and Government Hospitals.
  • Another Demonetisation Benefit is provided to Marriage Families. They can withdraw upto 2.5 Lakh from Their Account.

  • There are mobile ATM's to solve the cash Problem. 
  • Another Demonetisation policy and step is that No questions will be asked on deposit of 2,50,000 in savings account.
  • A big demonetization Policy is against those who deposited more than 2.5 lakh in Savings account and 12.5 lakh on current account. All deposits will be shared with Income Tax department. You may asked for the origin of Money.
  • After 30th December all old Big currency notes will be a Piece of Paper. But if You have some genuine money than it will be deposited to some branch with all KYC papers.
Above were the Important steps on Demonetisation announced by Indian Government. we understood there must be some disadvantages of demonetisation but the benefits of demonetization in more than that.

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Thursday, 17 November 2016

Impact pros and cons of demonetization

impact pros and cons of demonetization

Impact and Pros and cons of Demonetisation in India are very wide. 

Before we will discuss the advantages and disadvantages of Demonetisation, or pros and cons of Demonetization we must discuss the following points.

What is Demonetisation?
Demonetisation is a process by which a denomination of currency will not be legal tender. The denominations of note will not acceptable as valid currency. The same thing happens with the Rs. 500 and Rs.1000 note after demonetization.

What are the causes of Demonetization?
There can be many reasons of Demonetisation in any economy some of them are : Introduction of New Currency , to stop Black Marketing, excess Currency Storage,  High Corruption rates and others.
There will be excess fake currency in the economy is main reason of demonetisation.

What Happened on Demonetization?
On 8th November 2016, Government of India had announced that from that day on wards rupees 500 and 1000 rupee note will not be a legal tender. This means that 500 and 1000 rupee note will be accepted by anyone except the organisation declared by government. They can change the currency from the banks and post offices till 30th December 2016.

What is Impact of Demonetisation? What are Pros and cons of demonetization in India in 2016?
There are clear Impacts of demonetization showing in all the cities of India. Results of currency closure can be advantages or disadvantages. Business Batao supports the currency demonetization in India.

We are mentioning the current disadvantages of Demonetization:
  • All India is in line out Banks and ATM’s for Cash.
  • People are waiting for more than 5 to 10 hours to get cash from Bank. Still after waiting some people are no getting Cash. Harassment to public is a big cons of demonetisation in India.
  • ATM’s are not calibrated according to New 500 and 2000 rupee note.
  • Till 16th of November 2016 there is a report of death of more than 35 people due to cash problem.
  • People are getting 2000 rupee note but not getting the change in the market against this note. Small currency is threatening Disadvantages of Demonetization.
  • There can be a problem of Law and order in the country.
  • All families where there is marriage in the month of November are in big trouble. Another demonetisation disadvantages is with those families.

 Advantages of Demonetisation / Pros of Demonetization.
    pros and cons of demonetisation
  •  All fake currencies will be swiped in one shot is the biggest benefit of demonetization.
  • Bank and Card transactions will Increase. This is positively affecting the Indian Economy.
  • There is big fall in terrorism activities in Jammu and Kashmir is biggest demonetisation advantage.
  • There will be proper cash in the banks and condition of bank will be going better off.
  • Big Amount of Black money is kept by the government Authorities.
  • All Black Marketers and Corrupt officers are in Threat will be advantages of Demonetization.

So above were the pros and cons of demonetisation. I will keep you update with the impact of demonetization regularly. 

Comment and Share the Post for regular Updates on Demonetization

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Latest News and Updates on GST Rates

Demonetisation Policy Steps and Updates 

Sunday, 13 November 2016

what are rates of GST in India

what are rates of GST in India

Another Meeting of GST council was held on 3rd November 2016. This was a fruitful meeting on rates of GST in India. After so many meeting held by GST council the Final rates has been fixed.

Goods and Services Tax will help the people to easily trade from one state to another state. The rates of goods will be same in all over India after GST Applied.

People have the question in mind that what are the rates of GST in India. 

 So Following are the slab of rates under GST.

  • 0 Percent : On the Exempted goods Like essential items ,Grains etc.
  • 5 percent : This Tax rate will be applicable on common required goods like cloth etc.
  • 12 percent : This is the standard tax under GST rates slab includes the packaged foods too. 
  • 18 percent : All Products which are not covered under 12 percent GST rates will be covered under this except Luxury Products.

  • 28 Percent : This is the rates of GST which is applied on Luxury and High class products. Common goods under this category of GST are tobacco, Luxury Cars, alcohol etc.
There will be addition cess applicable to cover the Losses and Compensate it to the sates for Five Years : Mr Arun Jaitley, Finance Minister of India.

Government had announced balanced Tax rates of GST in India which has the advantages and disadvantages too. So what is the impact of GST rates on Consumers?

Many Products Like tobacco and other Luxury products which are taxed at 40 % inclusive of Excise and Vat will now have to pay 28% of GST. So these Products will be cheaper now.

There is also a tendency that manufacturer will save the Excise but they may increase the rates of product to earn more profit after low rates of GST in India. It will be a negative Impact of GST Rates.

Here are some examples of products which will impact after GST Tax rates:

  • Items like garments and shoes which are now under slab of 4 percent now taxed fewer than 5% after New rates of GST and there is a impact of 1% costlier to customers.
  • AC’s, washing machines, Fridge, cooking appliances and many other Products will be cheaper as the total GST impact on these will be 28 percent which is now more than that.
  • All the Services may come under the Tax slab of 18% which is costlier by 3% from Now.
The average rate of GST in India is less than 18% which is demanded by all the political Parties. Government is willing to start it from 1st April 2016 for their political Reasons too. 

Comment Below to Get more Updates On Gst 

Also Read
Advantages and Disadvantages Of GST in India
Demonetisation of Indian Rupee

Wednesday, 9 November 2016

Disadvantages of Demonetise of 500 & 1000 rupee note

Disadvantages of Demonetisation of 500 and 1000 rupee note

Prime Minister had taken a bold decision of closure of 500 & 1000 Indian rupee notes.

There are pros and cons of demonetization of Indian currency. But whenever such orders are passed the common man is in trouble. 

There are many advantages of demonetization of 500 and 1000 Indian rupee notes.  
Now we have to see the pros and cons of demonetization. I know that all India is fighting the situation but we all want to be aware about this. 

Main Disadvantages of Demonetisation of 500 and 1000 rupee notes
  • There is Hugh rush to the banks from last many days and normal work can be hampered.
  • Government had not alter in ATM's so there are big problems in currency Exchange.
  • Biggest Disadvantage of Demonetization will be with tourist who have only old notes and no connections in the area.
  • Common man who has only 500 and 1000 Currency notes will be in trouble for their daily livelihood for next some days.
  • Many People who has event like marriage and other having only old 500 and 1000 rupee notes will be in Big problem. They are really facing the high demonetisation disadvantages in India.
  • Some people had not Information of where to exchange the Old currency notes.

  • There are raids by Income Tax, Sales Tax and excise which can create problem for Business. 
  • If there is a Hard earned money which is beyond the limit of 2.5 lacs can indulge you in problem. this may be a biggest Disadvantages of Demonetisation of 500 and 1000 rupee notes.
  • At some Places Banks are unable to handle the pressure of Public and the currency notes are out of stock.
  • There will be problem of Change with 2000 rupee note. These were the some limitations of demonetization 500 and 1000 rupee note.
where to Use Old currency notes  after demonetization of 500 rupee notes till 15th December
  • At Government hospitals ,
  • On Interstate Bus Counters, Airports and Railway Station Ticket counters 
  • Petrol Pumps and Gas stations
  • All Banks and Post offices
  • Authorized Milk Booths
  • Crematoriums  grounds
  • Comment to Know More
I believe that there are many disadvantages of demonetisation.
Now See the Steps Taken By Government for Benefit of common man after demonetisation of 500 and 1000 rupee notes.

  • All National Highway tolls will be free till 2nd December. Government is ready to bear the loss with the citizen.
  • There will be Free treatment under Rs 500 in AIIMS.
Above were the big announcement by the Government of India as they are also understanding the pain of common man. 
Imp : Government will track all the deposits above 2.5 lacs in saving and 12.5 Lakh in Current bank accounts. Be careful. penalty upto 200% after Tax.

More Disadvantages of demonetisation of 500 and 1000 rupee note may be seen in Future but till now its a great decision.  

Read More 
Advantages of demonetization of Indian Rupee Notes 

500 and 1000 rupee notes Discontinued in India

GST rates In India 

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