Cashless Economy refers to a financial system where all or most of the money transactions are undertaken using digital media and network. One of the major goals of the Government of India behind the decision of demonetisation was to encourage digital transactions and transform India in a cashless economy. In recent times, with various initiatives through banks and making tax amendments, the Central Government is paving the way for electronic transactions. Though reports highlight a growth in this reference, participation of rural India is yet to be satisfactory. In this paper, an attempt is being made to analyse the changing situation since demonetisation and discuss the need of a societal approach in making the dream of cashless economy into reality.