Will India Move to a Cashless Society?

Will India Move to a Cashless Society?

Assessment

Interactive Video

Business

University

Hard

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The video discusses India's move towards a cashless society, highlighting the challenges and unintended consequences of currency replacement. It compares India's situation with Venezuela and explores alternative solutions. The discussion also covers the long-term effects on the economy, the impact on the banking sector, and societal behavior, including the shift towards physical goods for wealth management.

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7 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What are some unintended consequences mentioned regarding India's shift towards a cashless society?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

Why did the speaker suggest that developing economies should not attempt to go cashless?

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

What lessons should Venezuela learn from India's cashless experiment?

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4.

OPEN ENDED QUESTION

3 mins • 1 pt

What alternative methods could India have considered to manage the transition to cashless?

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5.

OPEN ENDED QUESTION

3 mins • 1 pt

What was the issue with the new currency notes in India?

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6.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the potential long-term effects of India's cashless initiative according to the speaker?

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7.

OPEN ENDED QUESTION

3 mins • 1 pt

How did the sudden removal of cash impact the banking sector in India?

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