Awareness and Adapatability to Cashless Economy: A Case Study of Himachal Pradesh

The Digital India Programme is a flagship programme of the Government of India with a vision to transform India into a digitally empowered society and knowledge economy. “Faceless, Paperless, Cashless” is one of professed role of Digital India. The Research paper focuses on awareness and adaptability of cashless policy in Himachal Pradesh. According to Government of India the cashless policy will increase employment, reduce cash related robbery thereby reducing risk of carrying cash. Cashless policy will also reduce cash related corruption and attract more foreign investors to the country. A major obstacle for the quick adoption of alternate mode of payment is mobile internet penetration, which is crucial because point of sale terminal works over mobile internet connection, while banks have been charging money on card-based transaction which is seen in hurdle. Taking a cue from PM NarenderaModi who has started the initiative to train his staff for mobile banking and cashless transactions, H.P governor Acharya Devvart too has asked his staff to adopt cashless transaction. Himachal Pradesh Raj Bhawan has become the first institute in state to adopt cashless transaction, when efforts are still being made to introduce cashless transaction in all govt. and private universities. The Research paper focuses on awareness and adaptability of cashless policy in Himachal Pradesh and helps to analyze the extent of comfort and satisfaction of people regarding cashless options, schemes and initiatives.