International Journal of Commerce and Management Research

International Journal of Commerce and Management Research


International Journal of Commerce and Management Research
International Journal of Commerce and Management Research
Vol. 4, Issue 4 (2018)

Cashless economy: The latest step towards growth


Shivangi

Can you imagine a day without cash? The answer is an obvious ‘no’. The rustle of notes and jingle of coins still have the power to light up any face. This paper studied the impact of cashless economy on the Indian growth. India continues to be driven by the use of cash; less than 5% of all payments happen electronically however the finance minister, in 2016 budget speech, talked about the idea of making India a cashless society, with the aim of curbing the flow of black money. This exploration paper demonstrates that presentation of cashless economy in India can be viewed as a positive development. It is normal that the effect will be felt in modernization of Indian installment framework, diminishment in cost of managing an account administrations, decrease in cost of high security and well-being administration. Lessen money related burglary in this manner decreasing danger of conveying money; cashless arrangement will likewise diminish money related debasement and draw in more outside financial specialists to the nation. Additionally check saving money related debasements.
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