Vol. 3, Issue 2 (2017)
Role of cashless economy in India
Author(s): Dr. Paras Jain, Roshni Billaiya, Soman Malaiya, Khushboo Singh Parihar
Abstract: Prime Minister Narendra Modi floated the idea of establishment of a cashless society in India. Govt. of India seems to be strict to bring reform in Indian economy. Online transactions will allow the government to keep a check on payments and lessen the possibility of black money in the economy. Such economy will depend on online transactions rather than cash payments. Transactions of higher amounts may be done through cards, shopkeepers are unwilling to use soft money for transactions which of a lesser amount.