OBJECTIVES OF THE STUDYThe Following Objectives

OBJECTIVES OF THE STUDY

The following objectives are identified:-

Primary Objective. To know the usage and adaption of plastic money.

Secondary Objectives. Secondary objectives are as under:-

- To know the importance of plastic money in the daily life of consumer’s with reference to credit and debit cards.

- To study the benefits of debit card & credit cards.

- To find out the market leader among the various banks/ companies issuing credit and debit cards.

- To know the problems faced by respondents using plastic money.

- To study the satisfaction level of consumers towards plastic money.

Need of the Study

It is rightly said plastic money is need of the hour. People are using these cards on a vast scale. But after considering the material available on the subject, it is seen that the whole payment process of processing these cards...
Introduction

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context.[1][2][3] The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, perhaps, a standard of deferred payment.[4][5] Any item or verifiable record that fulfills these functions can be considered money.

Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money.[4] Fiat money, like any check or note of debt, is without intrinsic use value as a physical commodity. It derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private".[citation needed] Such laws in practice cause fiat money to acquire the value of any of the goods and services that it may be traded for within the nation that issues it.

The money supply of a country consists of currency (banknotes and coins) and usually includes bank money (the balance held in checking accounts and savings accounts). Bank money, which consists only of records (mostly computerized in modern banking), forms by far the largest part of broad money in developed countries.[6][7][8]