Why is going cashless bad?

One of the disadvantages of going cashless is the possibility of digital fraud. There is a possibility of important private data getting breached. However, there are robust counter mechanisms to combat digital fraud and protect the data. You can read about the Cashless Economy in India – Definition, Types and Advantages for UPSC Economy in the given link.

Further readings:

1. Topic-Wise GS 3 Questions for UPSC Mains
2. Bharat Interface for Money (BHIM): Notes for the UPSC Exam