Cash today - borrow tomorrow ... buy the old concept from the heart today - pay comfortably tomorrow ... new concept

- E-commerce fraudulent move to make a fortune by pushing the middle class into debt

- Buy Today and Pay Tomorrow .... This offer is known in the US and European countries as Buy Now, Pay Later '(BNPL)

- Borrowers pay three times as much in the long run

The idea behind borrowing cash today was to teach people a sober life. Borrowers who did not repay were a blow to the rural economy. Those who say today or tomorrow will have a thousand excuses not to pay. Our forefathers used to say that it is more beneficial to show a sign that the person in front of you will not get a loan than to break the relationship by giving a loan. Often the borrower does not have a bad intention but the circumstances of the time are such that he cannot pay. Borrowers do not show all futures but overall experiences are such that no one likes to repay. Veterans were advised to borrow cash today (especially in leafy alleys and grocery stores). Borrowers may have some difficulty but the repayment time limit can hardly save anyone.

E-commerce sites are ready to lend me goods worth Rs 5 lakh to anyone who does not lend me a single chocolate from a shop in their area.

The coming days are coming to a close. These are booming days for e-commerce companies. People are proud to use credit cards. Banks trap credit card users by allowing them to make minimum payments. Despite repeated warnings, the lure of card-issuing agencies comes into play. He gets into debt by walking in front of people and then pays the remaining amount by getting entangled in 50-60% interest.

One more tempting offer for online shopping has come from e-commerce giant Amazon and Flip Cart. Buy today and pay tomorrow. This offer is known as Buy Now, Pay Later '(BNPL) in US and European countries. In short you make a purchase we will charge later. Who doesn't like such a tempting offer? Online shoppers in India are more enthusiastic.

This scheme is like a ladder for those who make haphazard purchases on credit cards. People have to buy and quietly pay monthly. Those who participate in the scheme will have their wrists cut off by signing an agreement online. If the money is not paid on time, interest as well as penalty etc. will be levied. Such an agreement will have to be agreed upon.

On such a wrist-cutting agreement, everyone gets angry without knowing it and falls into the trap of big payments. No one is fond of borrowing or paying interest but he is unknowingly trapped in a temptation.

Payment system has been facilitated since the launch of e-commerce sites. Banks were persuaded to make credit cards available in large quantities and easily. Banks that offer barely six per cent interest on deposits started charging more than 50 per cent from credit card users. By giving the option of minimum payment, the users were trapped.

When people started complaining about the payment, they immediately adopted a strict collection system. Such exemplary agencies used to go to people's homes and offices and do grandfathering. The Reserve Bank took control after a long period of harassment. People were then liberated. However people did not improve. It is said that people who closed the strict paradigm were increasing the debt by paying the minimum amount.

The rise of e-commerce has led to an increase in credit card issuing banks. Some banks offered credit cards via telecaller. Credit cards have started to be issued without any annual charge. Almost every bank is issuing credit cards which has increased the tendency to borrow. Some agencies are issuing credit cards of Rs 2 lakh online.

A peek into the world of middle class people reveals that one of the reasons behind their current debt is credit cards. People are frugal but do not hesitate to borrow, and very few people calculate interest. The unfortunate thing we have there is that not everyone has the money today. Not giving cash as well as not being willing to pay any immediate money. E-commerce sites have done a thorough study of the mentality of middle class people in India.

E-commerce sites are ready to lend goods worth Rs.

The word we borrow there is full of bitterness. No shopkeeper is willing to give it. There is also a limit to what a shop owner can lend for a month because of the relationship. Those poor people cannot take late fee or interest if the money is not returned on the due date while credit card holders can take late fee even if one day late payment comes. It does not embarrass anyone. People there quietly pay the late fee but pay the local shopkeeper at that convenience. Atleast today sees cash tomorrow borrowing boards.

There is a need to create awareness so that people do not use debit cards and get caught up in the scheme of buy today and pay tomorrow. Such a scheme would plunge the middle class into debt. We see cash there today, borrowed boards tomorrow. Instead, the concept of e-commerce companies buying from the heart, paying comfortably is about to begin. One more way is opening up for people to go bankrupt. Such schemes will send Kankotri against borrowing.