‭ HAPTER: 2‬

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‭RESEARCH‬
‭METHODOLOGY‬
‭Data about the scheme of digital India and steps taken to achieve success in this scheme has‬
‭been collected. Various benefits of scheme and problems in implementing this scheme have‬
‭been mentioned. The source of data is secondary and much more can be done to make this‬
‭scheme a huge success.‬

‭​‬ ‭OBJECTIVE OF THE STUDY:‬

‭1.‬‭To understand what is the concept of digital India‬

‭2.‬ ‭To illustrate the steps taken by the Government to fulfil the‬
‭dream to digital India‬
‭3.‬ ‭To analyse various benefits citizens are going to derive by‬
‭digitalizing Indian economy‬
‭4.‬ ‭To find out challenges being faced in achieving the goal of digital‬
‭India and how these challenges can be overcome‬
5‭ the most important objectives is to study about digital cashless in India project to know about the digital‬
‭services which India will going to adopt soon.‬
‭6.‬‭To create awareness about the digital services among the young generation‬
‭7.‬‭To make students aware of how they can maintain‬
8‭ .‬ ‭To make people use digital payment methods for their transaction of money for goods and‬
‭services fully, without elimination of physical cash from economic market completely‬
‭9.‬‭To‬‭Limited cash in circulation support to control‬‭growth of inflation rate.‬

‭10.‬ t‭o reduce the costs and risks of handling cash and to increase the ease of conducting‬
‭transactions.‬

‭11.‬‭To reduce the corruption which takes place mostly through the cash medium‬

‭12.‬‭To reduce the burden of the cost of printing currency and also handling them.‬

‭13.‬‭To transfer of money from one place to another is also gruesome.‬

‭14.‬‭To track the movement of money which is not possible completely in cash medium.‬

‭15.‬‭To revive the banking sector which is high on NPA and bad loans.‬

‭16.‬‭To make loans cheaper and affordable for everyone.‬

 ‭​‬ ‭HYPHOTHESIS‬
‭Now a days almost every one uses cashless payment methods it is very convenient and easy to use.‬
‭ ashless payments have made it possible to be able to go around cashless. There is no need to carry‬
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‭cash since most of the merchants accept payments through electronic mode.‬
‭ arry cash is hectic and also associated to risk of theft or losing a wallet is also a problem there for cash‬
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‭less payments are secure.‬
‭ ashless payments are secure because there is money send and receive directly in the bank account and‬
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‭we also receive the conformation from the bank when we make transaction.‬
‭Ever transaction is secure by PIN‬
‭ ashless transaction is done through bank account and online wallet which helps us to keep the records of‬
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‭every transaction.‬
‭Increases the cybercrime against online transaction like‬‭jam tara‬
 ‭​‬ ‭SCOPE‬‭:‬
‭Smooth,‬‭simple‬‭and‬‭secure‬‭payment‬‭processes‬‭will‬‭help‬‭to‬‭bring‬‭about‬‭behavioural‬‭changes‬‭and‬‭faster‬
‭adoption‬ ‭of‬ ‭digital‬ ‭payments‬ ‭and‬ ‭banking‬ ‭among‬ ‭un-banked‬ ‭segments.‬ ‭When‬ ‭new‬‭players‬‭enter‬‭the‬
‭market,‬ ‭each‬ ‭with‬ ‭a‬ ‭slightly‬ ‭different‬ ‭take‬ ‭on‬ ‭the‬ ‭market‬ ‭and‬ ‭with‬ ‭differing‬ ‭business‬ ‭models,‬ ‭the‬
‭increased‬‭competition‬‭will‬‭help‬‭the‬‭environment‬‭and‬‭offer‬‭more‬‭options‬‭for‬‭consumers‬‭to‬‭choose‬‭from.‬
‭A‬‭larger‬‭pie‬‭with‬‭more‬‭players‬‭is‬‭definitely‬‭good‬‭for‬‭the‬‭changing‬‭dynamics‬‭of‬‭the‬‭payments‬‭industry,‬
‭which‬‭is‬‭still‬‭nascent‬‭in‬‭India.‬‭Indian‬‭consumption‬‭is‬‭still‬‭dominated‬‭by‬‭cash,‬‭with‬‭cards‬‭contributing‬
‭only‬ ‭5‬ ‭per‬ ‭cent‬ ‭of‬ ‭the‬ ‭personal‬ ‭consumption‬ ‭expenditure.‬ ‭In‬ ‭developed‬ ‭countries,‬‭30-50‬‭per‬‭cent‬‭of‬
‭spends‬‭happen‬‭through‬‭cards.‬‭So,‬‭there‬‭is‬‭huge‬‭growth‬‭opportunity.‬‭The‬‭rapid‬‭growth‬‭of‬‭smartphones,‬
‭Internet‬ ‭penetration‬ ‭and‬ ‭e-commerce‬ ‭is‬ ‭complementing‬ ‭these;‬ ‭card‬ ‭payment‬ ‭volumes‬ ‭have‬ ‭been‬
‭growing‬ ‭in‬ ‭excess‬ ‭of‬ ‭25‬ ‭pe‬ ‭cent‬ ‭y-o-y.‬ ‭We‬ ‭expect‬ ‭this‬ ‭trend‬ ‭to‬ ‭continue,‬ ‭aided‬ ‭by‬ ‭the‬ ‭continued‬
‭increase‬ ‭in‬ ‭debit‬‭card‬‭activation‬‭and‬‭usage;‬‭debit‬‭card‬‭transactions‬‭have‬‭been‬‭growing‬‭at‬‭31‬‭per‬‭cent‬
‭each‬‭year.‬‭Intense‬‭competition‬‭and‬‭strategic‬‭collaboration‬‭among‬‭existing‬‭and‬‭new‬‭market‬‭participants‬
‭like‬‭the‬‭payments‬‭and‬‭small‬‭banks‬‭and‬‭wallets‬‭will‬‭help‬‭scale‬‭unacceptance‬‭and‬‭foster‬‭more‬‭creativity,‬
‭innovation‬ ‭and‬ ‭consumer‬‭choice.‬‭According‬‭to‬‭him,‬‭the‬‭future‬‭holds‬‭exciting‬‭times‬‭for‬‭the‬‭payments‬
‭industry‬ ‭in‬‭India,‬‭as‬‭all‬‭stakeholders‬‭and‬‭regulatory‬‭authorities‬‭come‬‭together‬‭to‬‭achieve‬‭a‬‭"less-cash‬
‭dependent"‬‭and‬‭eventually‬‭"cashless"‬‭society.‬‭The‬‭credit‬‭card‬‭industry‬‭in‬‭India‬‭sees‬‭greater‬‭acceptance‬
‭among‬‭consumers‬‭this‬‭year.‬‭According‬‭to‬‭Worldwide‬‭India‬‭Card‬‭Payment‬‭Report‬‭2014-15,‬‭the‬‭credit‬
‭card‬ ‭base‬ ‭grew‬ ‭at‬ ‭9.8‬ ‭per‬ ‭cent‬ ‭in‬ ‭the‬ ‭past‬ ‭year.‬ ‭Worldwide‬ ‭India‬ ‭is‬ ‭a‬ ‭leader‬ ‭in‬ ‭the‬ ‭payment‬ ‭and‬
‭Transactions‬ ‭services‬ ‭in‬ ‭the‬‭country.‬‭Alternative‬‭methods‬‭like‬‭mobile‬‭wallets‬‭and‬‭prepaid‬‭cash‬‭cards‬
‭accounted‬‭for‬‭3‬‭per‬‭cent‬‭of‬‭digital‬‭transactions.‬‭This‬‭industry‬‭has‬‭been‬‭growing‬‭steadily‬‭over‬‭the‬‭past‬
‭few‬ ‭years.‬ ‭Card‬ ‭transactions,‬ ‭both‬ ‭by‬ ‭debit‬ ‭and‬ ‭credit‬ ‭cards,‬ ‭are‬ ‭on‬‭an‬‭upward‬‭trajectory.‬‭There‬‭are‬
‭interesting dynamics at play in the Indian payments industry.‬
 ‭​‬ ‭IMITATIONS OF CASHLESS SOCIETYS:‬

‭The‬‭main‬‭issue‬‭of‬‭having‬‭a‬‭cashless‬‭society‬‭is‬‭whether‬‭the‬‭benefits‬‭would‬‭outweigh‬‭disadvantages.‬‭It‬
‭is‬ ‭important‬ ‭that,‬ ‭if‬ ‭society‬ ‭moves‬ ‭toward‬ ‭a‬ ‭cash‬ ‭free‬ ‭economy,‬ ‭the‬ ‭benefits‬ ‭must‬ ‭outweigh‬ ‭the‬
‭negative‬‭aspects‬‭in‬‭the‬‭end.‬‭There‬‭are‬‭major‬‭social‬‭and‬‭economic‬‭benefits‬‭to‬‭a‬‭cashless‬‭society‬‭such‬‭as‬
‭reduction‬‭in‬‭cash‬‭related‬‭crimes‬‭and‬‭monetary‬‭benefits.‬‭There‬‭are‬‭major‬‭negative‬‭implications‬‭with‬‭a‬
‭cashless‬‭society‬‭such‬‭as‬‭privacy‬‭issues‬‭and‬‭losing‬‭the‬‭liberty‬‭of‬‭cash.‬‭A‬‭cashless‬‭society‬‭could‬‭only‬‭be‬
‭implemented‬‭by‬‭the‬‭government‬‭since‬‭the‬‭government‬‭is‬‭the‬‭organization‬‭that‬‭prints‬‭and‬‭controls‬‭the‬
‭supply‬ ‭of‬ ‭cash‬ ‭in‬ ‭society.‬ ‭With‬ ‭the‬ ‭implementation‬ ‭of‬ ‭a‬ ‭cash‬ ‭free‬ ‭society‬ ‭the‬ ‭major‬ ‭government‬
‭agency,‬‭CBN‬‭may‬‭be‬‭in‬‭total‬‭control.‬‭What‬‭this‬‭means‬‭is‬‭that‬‭the‬‭government‬‭able‬‭be‬‭able‬‭to‬‭monitor‬
‭purchases,‬‭spending‬‭habits‬‭and‬‭businesses‬‭patronized.‬‭“The‬‭real‬‭danger‬‭is‬‭too‬‭heavy‬‭a‬‭hand‬‭watching‬
‭over‬‭your‬‭life.‬‭It's‬‭nobody's‬‭business‬‭where‬‭you‬‭spend‬‭your‬‭money‬‭so‬‭long‬‭as‬‭you‬‭earn‬‭it‬‭legally.‬‭No‬
‭government‬‭entity‬‭should‬‭know‬‭where‬‭you‬‭spend‬‭money‬‭for‬‭groceries."‬‭The‬‭main‬‭disadvantages‬‭of‬‭a‬
‭cashless‬‭society‬‭consist‬‭of‬‭privacy‬‭issues‬‭and‬‭computer‬‭hackers.‬‭One‬‭of‬‭the‬‭main‬‭issues‬‭regarding‬‭the‬
‭implementation‬ ‭of‬ ‭a‬ ‭smart‬ ‭card/chip‬ ‭that‬ ‭would‬ ‭record‬ ‭and‬ ‭control‬ ‭all‬ ‭financial‬ ‭transactions‬
‭electronically‬‭is‬‭the‬‭assault‬‭on‬‭privacy.‬‭With‬‭all‬‭private‬‭monetary‬‭data‬‭exposed‬‭to‬‭government‬‭officials‬
‭many‬‭citizens‬‭may‬‭believe‬‭that‬‭the‬‭government‬‭has‬‭substantial‬‭power‬‭over‬‭society‬‭by‬‭having‬‭access‬‭to‬
‭these‬ ‭types‬ ‭of‬ ‭confidential‬ ‭information.‬ ‭People‬ ‭value‬ ‭their‬ ‭ability‬ ‭to‬ ‭make‬ ‭some‬ ‭of‬ ‭their‬ ‭purchases‬
‭using‬ ‭cash,‬ ‭with‬ ‭absolutely‬ ‭no‬ ‭record,‬‭electronic‬‭log,‬‭or‬‭audit‬‭trail‬‭of‬‭those‬‭transactions,‬‭as‬‭a‬‭way‬‭to‬
‭safeguard‬‭their‬‭privacy‬‭(Brown,‬‭1997).‬‭Another‬‭major‬‭disadvantage‬‭with‬‭a‬‭cashless‬‭society‬‭is‬‭the‬‭risk‬
‭of‬ ‭computer‬ ‭hackers.‬ ‭Computer‬ ‭experts,‬ ‭so-called‬ ‭"Yahoo-Yahoo‬ ‭Boys",‬ ‭who‬ ‭trick‬ ‭unsuspecting‬
‭individuals,‬ ‭and‬ ‭organizations‬ ‭online‬ ‭to‬ ‭part‬ ‭with‬ ‭their‬ ‭money,‬ ‭might‬ ‭alter‬ ‭records,‬ ‭create‬ ‭fictitious‬
‭millionaires,‬‭set‬‭up‬‭dummy‬‭companies,‬‭and‬‭so‬‭on.‬‭n‬‭short,‬‭they‬‭could‬‭create‬‭an‬‭electronic‬‭underground‬
‭society‬‭as‬‭well‬‭as‬‭contribute‬‭to‬‭the‬‭issue‬‭of‬‭identity‬‭theft.‬‭Security‬‭is‬‭clearly‬‭of‬‭crucial‬‭importance‬‭in‬
‭considering any alternative to physical cash. At the root of this lies the problem of authentication,‬
‭i.e.‬ ‭the‬ ‭process‬ ‭of‬‭verifying‬‭the‬‭identity‬‭of‬‭a‬‭person.‬‭This‬‭is‬‭typically‬‭performed‬‭by‬‭examining‬‭some‬
‭identifying information such as a password or digital signature.‬
 ‭ ACK‬ ‭OF‬ ‭AWARENESS‬
L ‭AMONG‬ ‭PEOPLE‬ ‭FOR‬ ‭CASHLESS‬
‭TRANSACTIONS‬
‭Just‬ ‭60%‬ ‭of‬ ‭our‬ ‭country‬ ‭is‬ ‭basically‬ ‭literates‬ ‭I.e.,‬ ‭the‬ ‭just‬ ‭know‬ ‭who‬‭to‬‭read‬‭and‬‭write‬‭their‬‭names.‬
‭They‬ ‭don’t‬ ‭even‬ ‭have‬ ‭full-fledged‬‭running‬‭bank‬‭accounts‬‭and‬‭are‬‭unaware‬‭of‬‭its‬‭benefits.‬‭Education‬
‭is‬ ‭a‬ ‭big‬ ‭limitation‬ ‭in‬ ‭cashless‬ ‭transactions.‬ ‭So,‬ ‭for‬ ‭this‬ ‭technology‬ ‭to‬ ‭survive,‬ ‭the‬ ‭problem‬ ‭of‬
‭unawareness among people who are illiterates is again a challenging one to cope up with.‬

‭PRIVACY CONCERNS OVER PERSONAL ACCOUNT‬

‭As‬‭all‬‭the‬‭transaction‬‭is‬‭getting‬‭recorded‬‭in‬‭bank‬‭record‬‭book,‬‭there‬‭is‬‭a‬‭possibility‬‭that‬‭your‬‭personal‬
‭transactions‬ ‭for‬ ‭any‬ ‭specific‬ ‭work‬ ‭are‬ ‭also‬ ‭getting‬ ‭in‬ ‭surveillance.‬ ‭This‬ ‭can‬ ‭be‬ ‭against‬ ‭the‬‭personal‬
‭freedom‬‭law‬‭awarded‬‭by‬‭the‬‭constitution‬‭to‬‭its‬‭entire‬‭citizen.‬‭Indians‬‭have‬‭fear‬‭to‬‭go‬‭to‬‭the‬‭banks.‬‭This‬
‭is a big limitation of cashless transactions and cashless economy.‬

‭The money you earn should be yours and nobody has right to keep watching an eye on‬‭it.‬

‭CYBER CRIME‬

‭With‬ ‭people‬ ‭getting‬ ‭online,‬ ‭the‬ ‭bad‬ ‭one’s‬ ‭are‬ ‭also‬ ‭smart‬ ‭enough‬ ‭to‬ ‭tackle‬ ‭the‬ ‭technology‬ ‭with‬
‭unethical‬‭moves‬‭like‬‭hacking‬‭and‬‭phishing‬‭where‬‭if‬‭you‬‭tell‬‭then‬‭the‬‭password‬‭in‬‭any‬‭way,‬‭there‬‭is‬‭a‬
‭possibility that you will lose all your hard-earned penny.‬

‭People‬ ‭have‬ ‭to‬ ‭be‬ ‭very‬ ‭much‬ ‭careful‬ ‭while‬‭doing‬‭the‬‭online‬‭transactions‬‭as‬‭there‬‭is‬‭a‬‭higher‬‭risk‬‭of‬

‭cyber-attack if any carelessness is shown by the door.‬
 ‭“WAYS TO PROTECT AGAINST HACKERS.”‬

‭1.‬ ‭Don’t access personal or financial data with public Wi-Fi.‬

‭This‬‭may‬‭seem‬‭like‬‭a‬‭no-brainer,‬‭but‬‭you’d‬‭be‬‭surprised‬‭how‬‭many‬‭people‬‭check‬‭their‬‭bank‬‭accounts‬
‭or‬‭make‬‭purchases‬‭with‬‭a‬‭credit‬‭card‬‭while‬‭using‬‭public‬‭Wi-Fi.‬‭It’s‬‭best‬‭to‬‭do‬‭those‬‭things‬‭on‬‭a‬‭secure‬
‭connection.‬

‭2.‬ ‭Turn off anything you don’t need.‬

‭Hackers‬‭can‬‭use‬‭certain‬‭features‬‭on‬‭your‬‭phone‬‭to‬‭get‬‭at‬‭your‬‭information,‬‭location‬‭or‬‭connection.‬‭So,‬
‭instead‬‭of‬‭keeping‬‭your‬‭GPS,‬‭wireless‬‭connection‬‭and‬‭geo-tracking‬‭on‬‭all‬‭the‬‭time,‬‭just‬‭turn‬‭them‬‭on‬
‭when you need them.‬

‭3.‬ ‭Choose your apps wisely.‬

‭Only‬‭download‬‭apps‬‭from‬‭trustworthy‬‭sources‬‭that‬‭have‬‭established‬‭a‬‭good‬‭reputation.‬‭Make‬‭sure‬‭you‬
‭update your software and apps regularly and get rid of old apps you don’t use.‬

‭4.‬ ‭Use a password, lock code or encryption.‬

‭Make‬‭sure‬‭your‬‭passwords‬‭are‬‭at‬‭least‬‭eight‬‭characters‬‭long,‬‭with‬‭a‬‭mix‬‭of‬‭upper‬‭and‬‭lower‬‭case,‬‭and‬
‭include‬‭numbers‬‭or‬‭other‬‭characters,‬‭and‬‭never‬‭use‬‭the‬‭auto-complete‬‭feature‬‭for‬‭passwords.‬‭You‬‭can‬
‭use‬ ‭the‬ ‭storage‬ ‭encryption‬ ‭feature‬‭on‬‭your‬‭phone‬‭to‬‭protect‬‭your‬‭private‬‭data,‬‭and‬‭set‬‭your‬‭screen‬‭to‬
‭timeout after five minutes or less.‬

‭5.‬ ‭Be sceptical about links and attachments.‬

‭If you’re not sure about the source, don’t use the link or open the attachment.‬
‭SIGNIFICANCE OF STUDY‬

‭Cashless‬‭economy‬‭is‬‭the‬‭term‬‭that‬‭everyone‬‭uses‬‭to‬‭describe‬‭the‬‭situation‬‭where‬‭the‬‭flow‬‭of‬‭cash‬‭does‬
‭not‬ ‭exist‬ ‭within‬ ‭the‬ ‭economy.‬ ‭All‬ ‭the‬ ‭transactions‬ ‭take‬ ‭place‬ ‭through‬ ‭electronic‬ ‭channels.‬ ‭Going‬
‭cashless eases, one's life. It also helps formalize the transactions.‬
‭Further,‬ ‭it‬ ‭helps‬ ‭to‬ ‭curb‬ ‭corruption.‬ ‭And‬ ‭also,‬ ‭the‬ ‭flow‬ ‭of‬ ‭black‬ ‭money‬ ‭results‬ ‭in‬ ‭an‬ ‭increase‬ ‭in‬
‭economic growth.‬

‭Now,‬ ‭in‬ ‭the‬ ‭situation‬ ‭of‬ ‭this‬ ‭global‬ ‭coronavirus‬ ‭pandemic.‬ ‭The‬ ‭people‬ ‭of‬ ‭all‬ ‭statures‬ ‭got‬ ‭to‬ ‭know‬
‭about the benefits of cash-less economic transactions.‬

‭Many‬‭of‬‭us‬‭from‬‭the‬‭events‬‭of‬‭Lockdowns‬‭and‬‭till‬‭now‬‭are‬‭afraid‬‭to‬‭use‬‭the‬‭currency‬‭notes.‬‭And‬‭we‬
‭tend‬‭to‬‭sanitize‬‭them‬‭as‬‭soon‬‭as‬‭we‬‭reach‬‭our‬‭homes.‬‭Because‬‭we‬‭all‬‭fear‬‭that‬‭this‬‭currency‬‭may‬‭carry‬
‭the virus, and that's why we don't want to use it.‬

‭Additionally,‬‭in‬‭the‬‭event‬‭of‬‭a‬‭complete‬‭lockdown,‬‭many‬‭of‬‭us‬‭were‬‭unable‬‭to‬‭withdraw‬‭money‬‭from‬
‭banks‬ ‭and‬ ‭ATMs.‬ ‭Due‬ ‭to‬ ‭this‬ ‭problem,‬ ‭we‬ ‭started‬ ‭using‬ ‭UPI‬ ‭and‬ ‭other‬ ‭digital‬ ‭payment‬ ‭options‬ ‭to‬
‭purchase goods. And further, we understood the importance of these payment methods.‬

‭The‬‭same‬‭thing‬‭is‬‭happening‬‭with‬‭everyone‬‭around‬‭the‬‭world.‬‭So‬‭we‬‭all,‬‭with‬‭corporate‬‭and‬‭business‬
‭houses, are shifting towards cashless transactions.‬
‭So,‬‭to‬‭help‬‭you‬‭all‬‭understand‬‭the‬‭efforts‬‭Government‬‭is‬‭taking‬‭to‬‭make‬‭India‬‭a‬‭Cashless‬‭Economy,‬‭we‬
‭have‬‭prepared‬‭this‬‭article.‬‭And‬‭we‬‭think‬‭that‬‭with‬‭this‬‭blog,‬‭you‬‭can‬‭assess‬‭what‬‭our‬‭state‬‭is‬‭doing‬‭for‬
‭us and how we can contribute and improve it. Let's begin with it.‬

‭●‬ ‭accounts‬‭from‬‭public‬‭computers‬‭that‬‭could‬‭be‬‭infected‬‭with‬‭spyware‬‭or‬‭malware,‬‭or‬‭may‬‭use‬‭an‬
‭unsecured‬‭Internet‬‭connection.‬‭If‬‭you‬‭do‬‭use‬‭public‬‭computers,‬‭be‬‭sure‬‭to‬‭log‬‭out‬‭when‬‭you‬‭are‬
‭finished.‬‭In‬‭general,‬‭it‬‭is‬‭more‬‭secure‬‭to‬‭use‬‭a‬‭smartphone’s‬‭cellular‬‭data‬‭network‬‭than‬‭a‬‭public‬
‭or unsecured Internet connection.‬

‭●‬ ‭Create‬ ‭strong‬ ‭passwords.‬‭To‬‭reduce‬‭the‬‭chances‬‭of‬‭your‬‭online‬‭accounts‬‭being‬‭hacked,‬‭change‬

‭your‬ ‭passwords‬ ‭frequently.‬ ‭Strong‬‭passwords‬‭are‬‭at‬‭least‬‭12‬‭characters‬‭long,‬‭include‬‭numbers,‬
‭letters,‬‭special‬‭characters‬‭(&,!,?,‬‭etc.),‬‭and‬‭are‬‭not‬‭too‬‭predictable.‬‭For‬‭example,‬‭don’t‬‭use‬‭your‬
‭name‬ ‭or‬ ‭date‬ ‭of‬ ‭birth‬ ‭for‬ ‭your‬ ‭password‬ ‭or‬ ‭common‬ ‭words‬ ‭like‬ ‭“password.”‬ ‭If‬ ‭you‬ ‭have‬
‭multiple‬ ‭online‬ ‭accounts,‬ ‭it‬ ‭is‬‭best‬‭to‬‭have‬‭a‬‭different‬‭password‬‭for‬‭each‬‭account.‬‭In‬‭the‬‭event‬
‭that‬‭one‬‭of‬‭your‬‭accounts‬‭is‬‭hacked,‬‭having‬‭different‬‭passwords‬‭for‬‭your‬‭other‬‭accounts‬‭reduces‬
‭the likelihood of those accounts being accessed too.‬

‭●‬ ‭Use‬ ‭multifactor‬ ‭authentication‬ ‭on‬ ‭your‬ ‭accounts.‬ ‭Multifactor‬ ‭authentication‬ ‭works‬ ‭like‬ ‭this:‬
‭When‬‭you‬‭enter‬‭your‬‭password‬‭for‬‭your‬‭email‬‭account,‬‭for‬‭example,‬‭you‬‭are‬‭directed‬‭to‬‭a‬‭page‬
‭that‬ ‭asks‬ ‭for‬ ‭a‬ ‭four-digit‬ ‭code.‬ ‭Your‬ ‭email‬ ‭provider‬ ‭then‬ ‭sends‬ ‭a‬‭unique,‬‭temporary‬‭code‬‭in‬‭a‬
‭text‬‭message‬‭or‬‭to‬‭another‬‭email‬‭account.‬‭You‬‭must‬‭enter‬‭the‬‭code,‬‭which‬‭expires‬‭after‬‭a‬‭short‬
‭amount‬ ‭of‬ ‭time,‬ ‭to‬‭access‬‭your‬‭account.‬‭This‬‭means‬‭that‬‭hackers‬‭who‬‭obtained‬‭your‬‭password‬
‭still‬ ‭can’t‬ ‭access‬ ‭your‬ ‭account‬ ‭unless‬ ‭they‬ ‭also‬ ‭have‬ ‭access‬ ‭to‬ ‭that‬ ‭verification‬ ‭code,‬ ‭adding‬
‭another‬ ‭layer‬ ‭of‬ ‭protection.‬ ‭Many‬ ‭email‬ ‭providers,‬ ‭social‬ ‭media‬ ‭websites,‬ ‭and‬ ‭financial‬
‭institutions now make it easy for users to set up multifactor authentication on their accounts.‬

‭●‬ ‭Be‬ ‭cautious‬ ‭with‬ ‭“Save‬ ‭my‬ ‭information‬ ‭for‬ ‭next‬ ‭time.”‬ ‭Many‬ ‭websites‬ ‭now‬ ‭store‬ ‭personal‬
‭banking‬‭or‬‭credit‬‭card‬‭information‬‭to‬‭make‬‭it‬‭easier‬‭for‬‭you‬‭to‬‭buy‬‭a‬‭product‬‭or‬‭to‬‭pay‬‭a‬‭bill‬‭in‬
‭the‬ ‭future.‬ ‭Although‬ ‭convenient,‬‭if‬‭your‬‭account‬‭is‬‭hacked,‬‭your‬‭payment‬‭information‬‭is‬‭more‬
‭easily‬ ‭available‬ ‭to‬ ‭hackers.‬ ‭Ensure‬ ‭any‬ ‭website‬ ‭where‬ ‭you‬ ‭enter‬‭your‬‭financial‬‭information‬‭is‬
‭secure‬‭(the‬‭website’s‬‭URL‬‭should‬‭start‬‭with‬‭“https://”—remember‬‭that‬‭the‬‭“s”‬‭is‬‭for‬‭“secure”),‬
‭that your password is unique to that account, and that you log out once you are done.‬
‭IF YOUR DEVICE OR ONLINE ACCOUNTS ARE HACKED‬
‭●‬ ‭Have‬ ‭devices‬ ‭inspected.‬ ‭If‬ ‭your‬ ‭computer‬ ‭or‬ ‭other‬ ‭device‬ ‭is‬ ‭hacked,‬ ‭disconnect‬ ‭it‬ ‭from‬ ‭the‬
‭Internet‬ ‭and‬ ‭have‬ ‭it‬ ‭looked‬ ‭at‬ ‭and‬ ‭repaired‬ ‭by‬ ‭a‬ ‭trusted‬ ‭specialist.‬ ‭Be‬ ‭cautious‬ ‭when‬ ‭calling‬
‭telephone‬‭numbers‬‭for‬‭technical‬‭support‬‭specialists‬‭that‬‭you‬‭find‬‭online.‬‭Scam‬‭artists‬‭sometimes‬
‭set‬ ‭up‬ ‭authentic-looking‬ ‭websites‬ ‭that‬ ‭may‬ ‭appear‬ ‭to‬ ‭be‬ ‭affiliated‬ ‭with‬ ‭your‬ ‭computer’s‬
‭manufacturer. When consumers call these entities, they are often told they must‬

p‭ ay‬‭hundreds‬‭of‬‭dollars‬‭for‬‭their‬‭computer‬‭to‬‭be‬‭fixed,‬‭or‬‭the‬‭“technician”‬‭installs‬‭other‬‭viruses‬
‭onto‬ ‭the‬ ‭computer‬ ‭that‬ ‭steal‬ ‭information‬ ‭or‬ ‭cause‬ ‭more‬ ‭problems.‬ ‭It‬ ‭is‬ ‭often‬ ‭best‬ ‭to‬ ‭take‬ ‭the‬
‭device‬ ‭to‬ ‭a‬ ‭physical‬ ‭repair‬ ‭shop,‬ ‭rather‬ ‭than‬ ‭trying‬ ‭to‬ ‭find‬ ‭a‬ ‭technician‬ ‭online.‬ ‭If‬ ‭you‬ ‭call‬ ‭a‬
‭technician‬ ‭online,‬ ‭be‬ ‭sure‬ ‭to‬ ‭research‬ ‭the‬ ‭company‬ ‭and‬ ‭its‬ ‭phone‬ ‭number‬ ‭to‬ ‭be‬ ‭sure‬ ‭it‬ ‭is‬
‭legitimate.‬

‭●‬ ‭Change‬ ‭your‬ ‭passwords.‬ ‭After‬ ‭getting‬ ‭a‬ ‭device‬ ‭repaired‬ ‭or‬ ‭cleaned‬ ‭of‬ ‭viruses,‬ ‭you‬ ‭should‬
‭change‬ ‭all‬ ‭the‬ ‭passwords‬ ‭for‬ ‭any‬ ‭accounts‬ ‭you‬ ‭accessed‬ ‭using‬ ‭the‬ ‭device.‬ ‭The‬ ‭malicious‬
‭software‬ ‭that‬ ‭was‬ ‭removed‬ ‭from‬ ‭your‬ ‭computer‬ ‭may‬ ‭have‬ ‭transmitted‬ ‭your‬ ‭passwords‬ ‭to‬ ‭an‬
‭attacker,‬ ‭granting‬ ‭the‬ ‭hacker‬ ‭easy‬ ‭access‬ ‭to‬ ‭your‬ ‭information.‬ ‭Similarly,‬‭if‬‭one‬‭of‬‭your‬‭online‬
‭accounts‬ ‭has‬ ‭been‬ ‭hacked,‬ ‭be‬ ‭sure‬ ‭to‬ ‭change‬ ‭your‬ ‭password‬ ‭immediately.‬ ‭A‬‭hacker‬‭may‬‭also‬
‭change‬ ‭your‬ ‭password,‬ ‭denying‬ ‭you‬ ‭access‬ ‭to‬ ‭the‬ ‭account.‬ ‭If‬ ‭you‬ ‭are‬ ‭unable‬ ‭to‬ ‭access‬ ‭your‬
‭account, contact the website directly and it can assist you in restoring your account.‬

‭●‬ ‭Monitor‬ ‭financial‬ ‭accounts.‬ ‭If‬ ‭a‬ ‭hacked‬ ‭account‬ ‭contains‬ ‭financial‬ ‭information,‬ ‭contact‬ ‭your‬
‭bank‬ ‭or‬ ‭credit‬ ‭card‬ ‭company‬ ‭immediately,‬ ‭letting‬ ‭it‬ ‭know‬ ‭that‬ ‭your‬ ‭account‬ ‭may‬ ‭be‬
‭compromised.‬‭Your‬‭bank‬‭or‬‭credit‬‭card‬‭company‬‭may‬‭issue‬‭you‬‭a‬‭new‬‭card‬‭or‬‭account‬‭number.‬
‭Be‬ ‭sure‬ ‭to‬ ‭monitor‬ ‭activity‬ ‭on‬ ‭the‬ ‭account‬ ‭for‬ ‭any‬ ‭fraudulent‬ ‭transactions.‬ ‭In‬ ‭some‬ ‭cases,‬
‭hackers‬‭may‬‭have‬‭obtained‬‭your‬‭information,‬‭but‬‭will‬‭not‬‭use‬‭it‬‭right‬‭away.‬‭If‬‭you‬‭are‬‭not‬‭issued‬
‭a new card or account number, you should monitor your account for an extended period.‬

‭●‬ ‭Notify‬ ‭others.‬ ‭When‬ ‭appropriate,‬ ‭contact‬ ‭your‬ ‭friends‬ ‭and‬ ‭family‬ ‭and‬ ‭make‬ ‭them‬‭aware‬‭your‬
‭device‬ ‭or‬ ‭account‬ ‭has‬ ‭been‬ ‭hacked.‬ ‭Hackers‬ ‭may‬‭try‬‭to‬‭gain‬‭access‬‭to‬‭your‬‭email‬‭contact‬‭list,‬
‭and‬ ‭send‬ ‭emails‬ ‭from‬ ‭your‬ ‭account.‬ ‭Notifying‬ ‭friends‬ ‭and‬ ‭family‬ ‭that‬ ‭your‬ ‭account‬ ‭has‬ ‭been‬
‭hacked,‬ ‭and‬ ‭instructing‬‭them‬‭not‬‭to‬‭open‬‭urgent‬‭or‬‭strange‬‭emails,‬‭“click”‬‭on‬‭suspicious‬‭links,‬
‭or‬ ‭download‬ ‭attachments‬ ‭that‬ ‭seem‬ ‭to‬ ‭come‬ ‭from‬ ‭you‬ ‭may‬ ‭help‬ ‭protect‬ ‭their‬ ‭accounts‬ ‭from‬
‭hackers.‬
‭.‬
‭​‬ ‭SELECTION OF THE PROBLEMS‬‭:‬

‭Problems‬ ‭for‬ ‭the‬ ‭unbanked-‬ ‭Cashless‬ ‭systems‬ ‭can‬ ‭be‬ ‭problematic‬ ‭for‬ ‭people‬ ‭who‬ ‭currently‬ ‭rely‬ ‭on‬
‭cash,‬ ‭who‬ ‭are‬ ‭concentrated‬ ‭in‬ ‭certain‬ ‭populations‬ ‭such‬ ‭as‬ ‭the‬ ‭poor,‬ ‭near‬ ‭poor,‬ ‭elderly,‬ ‭electronic‬
‭transactions‬ ‭require‬ ‭a‬ ‭bank‬ ‭account‬ ‭and‬ ‭some‬ ‭familiarity‬ ‭with‬ ‭the‬ ‭payment‬‭system.‬‭Many‬‭people‬‭in‬
‭impoverished‬ ‭areas‬ ‭are‬ ‭underbanked‬ ‭or‬ ‭unbanked.‬ ‭In‬ ‭the‬ ‭United‬ ‭States,‬ ‭almost‬ ‭one-third‬ ‭of‬ ‭the‬
‭population‬ ‭lacked‬ ‭the‬ ‭full‬ ‭range‬ ‭of‬ ‭basic‬ ‭financial‬ ‭services.‬ ‭According‬ ‭to‬ ‭FDIC‬‭data,‬‭of‬‭households‬
‭that‬ ‭earn‬‭an‬‭annual‬‭income‬‭of‬‭less‬‭than‬‭$15,000‬‭per‬‭year,‬‭almost‬‭25.6%‬‭do‬‭not‬‭have‬‭a‬‭bank‬‭account.‬
‭Nationwide,‬‭7.7%‬‭of‬‭people‬‭in‬‭United‬‭States‬‭do‬‭not‬‭have‬‭bank‬‭accounts,‬‭with‬‭levels‬‭over‬‭20%‬‭in‬‭some‬
‭cities‬ ‭and‬ ‭rural‬ ‭counties,‬ ‭and‬ ‭over‬‭40%‬‭in‬‭some‬‭census‬‭tracts.‬‭Fraudulent‬‭Activities-‬‭When‬‭payment‬
‭transactions‬‭are‬‭stored‬‭in‬‭servers,‬‭it‬‭increases‬‭the‬‭risks‬‭of‬‭unauthorized‬‭breaches‬‭by‬‭hackers.‬‭Financial‬
‭cyber-attacks‬‭and‬‭digital‬‭crime‬‭also‬‭form‬‭a‬‭greater‬‭risk‬‭when‬‭going‬‭cashless.‬‭Many‬‭companies‬‭already‬
‭suffer‬ ‭data‬ ‭breaches,‬ ‭including‬ ‭of‬ ‭payment‬ ‭systems.‬ ‭Electronic‬ ‭accounts‬ ‭are‬ ‭vulnerable‬ ‭to‬
‭unauthorized‬‭access‬‭and‬‭transfer‬‭of‬‭funds‬‭to‬‭another‬‭account‬‭or‬‭unauthorized‬‭purchases.‬‭Attacks‬‭on‬‭or‬
‭accidental‬ ‭outages‬ ‭of‬ ‭telecommunication‬ ‭infrastructure‬ ‭also‬ ‭prevents‬ ‭electronic‬ ‭payments‬ ‭from‬
‭working, unlike cash transactions which can continue with minimal infrastructure.‬
‭the sample is collected from random people (students, businessman, workers)‬

‭the‬‭sample‬‭is‬‭primary‬‭source‬‭for‬‭the‬‭project‬‭and‬‭the‬‭details‬‭is‬‭correct‬‭and‬‭true‬‭according‬‭to‬‭me‬‭and‬‭my‬
‭knowledge.‬

‭The sample is collected from fifteen (50) individuals‬

‭The‬ ‭data‬ ‭which‬ ‭I‬‭collected‬‭from‬‭individuals‬‭are‬‭shown‬‭is‬‭the‬‭section‬‭data‬‭analysis‬‭interpretation‬‭and‬

‭presentation.‬

‭DATA COLLECTION‬

‭The‬ ‭sources‬ ‭of‬ ‭recruitment‬‭are‬‭broadly‬‭divided‬‭into‬‭Internal‬‭Sources‬‭and‬‭Externals‬‭Sources.‬‭Internal‬

‭Sources‬ ‭are‬ ‭the‬ ‭sources‬ ‭within‬ ‭organizational‬ ‭pursuits.‬ ‭The‬ ‭primary‬ ‭data‬ ‭is‬ ‭collected‬ ‭with‬ ‭direct‬
‭interaction‬ ‭with‬ ‭candidates‬ ‭through‬ ‭questionnaire‬‭and‬‭personal‬‭interview.‬‭The‬‭questionnaire‬‭consists‬
‭of‬ ‭closed‬ ‭ended‬ ‭and‬ ‭open-ended‬ ‭questions.‬ ‭Externals‬ ‭Sources‬ ‭are‬ ‭sources‬ ‭outside‬ ‭organizational‬
‭pursuits.‬

‭PRIMARY DATA‬

‭The‬‭main‬‭prospect‬‭of‬‭my‬‭report‬‭I‬‭have‬‭decided‬‭to‬‭use‬‭primary‬‭data‬‭analysis.‬‭For‬‭this‬‭I‬‭have‬‭structured‬
‭a‬‭small‬‭survey‬‭using‬‭the‬‭“Google‬‭Form‬‭survey”‬‭in‬‭the‬‭perspective‬‭of‬‭recruitment‬‭and‬‭selection‬‭of‬‭the‬
‭company using a Questionnaire model.‬

‭SECONDARY DATA‬

‭In‬ ‭this‬ ‭report‬ ‭I‬ ‭have‬ ‭basically‬ ‭focused‬ ‭on‬ ‭secondary‬ ‭data‬ ‭analysis.‬ ‭This‬ ‭means‬ ‭the‬ ‭information‬ ‭of‬ ‭this‬
‭report‬‭has‬‭been‬‭collected‬‭from‬‭Human‬‭Resource‬‭Manual,‬‭Magazines,‬‭Websites‬‭and‬‭textbooks‬‭from‬‭various‬
‭libraries.‬
‭TABULATION OF DATA‬
‭Descriptive‬ ‭research‬ ‭is‬ ‭undertaken‬ ‭to‬ ‭describe‬ ‭the‬ ‭situation,‬ ‭community,‬ ‭phenomena,‬ ‭outcome‬ ‭or‬
‭programme.‬
‭The‬‭main‬‭goal‬‭of‬‭this‬‭type‬‭of‬‭research‬‭is‬‭to‬‭describe‬‭the‬‭data‬‭and‬‭characteristics‬‭about‬‭what‬‭is‬‭being‬
‭studied.‬
‭It is contemporary, topical and time bound.‬
‭They‬ ‭are‬ ‭relatively‬ ‭more‬ ‭structured‬ ‭and‬ ‭require‬ ‭a‬ ‭formal,‬ ‭specific‬ ‭and‬ ‭systematic‬ ‭approach‬ ‭to‬
‭sampling,‬‭collecting‬‭information,‬‭collating‬‭and‬‭testing‬‭the‬‭data‬‭to‬‭verify‬‭the‬‭research‬‭assumptions.‬‭It‬‭is‬
‭largely of a diagnostic nature without establishing the causality of the relationship‬‭.‬

‭Various‬ ‭kinds‬ ‭of‬ ‭tables‬ ‭and‬ ‭charts‬ ‭are‬ ‭used‬ ‭to‬ ‭represent‬ ‭the‬ ‭survey‬ ‭findings‬ ‭and‬‭result.‬‭Charts‬‭like‬‭pie‬
‭diagram, bar diagram are used.‬

‭This diagram consists of a series of rectangular bars standing on a common base. The‬
‭length of the bars is proportional to their magnitude.‬
‭The comparison among the bars is based on lengths. There‬
‭are three types of bar diagram.‬

‭TECHNIQUE AND TOOLS‬

‭Under descriptive research design we know there are two types of methods are normally used they are:‬

‭❖‬ ‭Survey method‬

‭❖‬ ‭Observation method‬

‭For‬ ‭my‬ ‭analysis‬ ‭I‬ ‭have‬ ‭used‬ ‭the‬ ‭survey‬ ‭method.‬ ‭This‬ ‭method‬ ‭works‬ ‭by‬ ‭obtaining‬ ‭information‬
‭based‬‭on‬‭questioning‬‭of‬‭respondents.‬‭Respondents‬‭are‬‭asked‬‭a‬‭variety‬‭of‬‭questions‬‭regarding‬‭their‬
‭behavior, intentions, attitudes, awareness. Questions are basically asked either‬
‭verbally‬ ‭or‬ ‭in‬ ‭writing‬ ‭or‬ ‭both‬ ‭in‬ ‭same‬ ‭time.‬ ‭In‬ ‭this‬ ‭case‬ ‭I‬ ‭have‬ ‭decided‬ ‭to‬ ‭use‬ ‭the‬ ‭structured‬
‭questioner format and asked the questions both verbally and allowed them to write the answers‬‭.‬