India’s Move towards Cashless Economy

Vol-4 | Issue-6 | June 2019 | Published Online: 10 June 2019    PDF ( 268 KB )
Author(s)
Ayushi Kamra 1; Dr. Rooppal Kaur 2; Raghav Wadhwa 3

1M.Com,Ugc Net

2Assistant Professorin Commerce, Dev Samaj College for Women, Ferozepur (India)

3Assistant Professor in Commerce, Baba Farid College of Management & Technology, Bathinda (India)

Abstract

India is a cash centric country. It is one of the countries in the world where cash is the king in the market. It seems like a dream to built India a cashless economy. Many steps have been taken to encourage e-payment methods in our country. One of which major steps include demonetization in Nov. 2016. Digital economy unearths black money, control circulation of fake currency and transparency in dealings. The objective of this paper is to check the growth of India from cash to cashless economy. Data used in this paper is secondary in nature. This Paper will through a light on basic concept, modes of digital payment, challenges and benefits of cashless India. This paper also examines the growth of digital buyers from 2014 to 2019 with the help of graphs and charts.

Keywords
cashless economy, digital payments, demonetization, smart phones.
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