Paper Title

CASHLESS INDIA: CHALLENGES AND BENEFITS

Article Identifiers

Registration ID: IJNRD_180099

Published ID: IJNRD1806004

DOI: Click Here to Get

Authors

Anjali Dubey , Sripal Srivastava

Keywords

Cashless Economy, e-payments, descriptive analysis, digitalization, India.

Abstract

Introduction: Before the development of modern banking system, banking operation like posting of transaction from one ledger to another, issue of cash and deposit of cash and other banking activities was manually done which lead to a slowdown in settlement of transactions. Digital, is a powerful word which is contributing a lot to the development in any country, many countries using now a days digital payment, digital marketing, digital innovations etc. India is also not so far from the benefits of digitalization, to understand the power and benefits of digitalization Objective of study: The objective of this paper is to examine the current monetary system of paper currency and coins and electronic payments in cashless economy of India: Challenges and Benefits. This new policy of Indian Government on cashless system of payment has raised a lot concern to the growth of Indian Economy, with the aim of reducing robbery, high cost of processing cash, revenues leakage, inefficient treasury management, fake currency etc. Methodology: Descriptive research design was used to carry out this study. Expected result: The author concluded that cashless system of payment will be examined and develop the e-payment system first, so that people will be used to it before talking of cashless economy. To retain this policy of cashless economy in India, it is suggested that the movement of our payment system towards a cashless society would require some reforms, a lot of efforts and sensitization especially for low income group, unorganized market who are currently deeply rooted in using cash and see it as a convenient and easy way of receiving and making payment. There should be improvement in infrastructural and development so as to enhance e-payment system. The paper recommends a cashless society in wake of the negative and fraudulent practices that are associated with cash, something that can be fixed by adopting a new, smart, innovative and hassle-free model that simplifies the exchange of money without attaching any tangibility to it. Keywords: Cashless Economy, e-payments, descriptive analysis, digitalization, India.

How To Cite

"CASHLESS INDIA: CHALLENGES AND BENEFITS", IJNRD - INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT (www.IJNRD.org), ISSN:2456-4184, Vol.3, Issue 6, page no.17-22, June-2018, Available :https://ijnrd.org/papers/IJNRD1806004.pdf

Issue

Volume 3 Issue 6, June-2018

Pages : 17-22

Other Publication Details

Paper Reg. ID: IJNRD_180099

Published Paper Id: IJNRD1806004

Downloads: 000121176

Research Area: Management

Country: Ghaziabad, Uttar Pradesh, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD1806004.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD1806004

About Publisher

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

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IJNRD is Scholarly open access journals, Peer-reviewed, and Refereed Journals, High Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool), Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI) with Open-Access Publications.

INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT (IJNRD) aims to explore advances in research pertaining to applied, theoretical and experimental Technological studies. The goal is to promote scientific information interchange between researchers, developers, engineers, students, and practitioners working in and around the world. IJNRD will provide an opportunity for practitioners and educators of engineering field to exchange research evidence, models of best practice and innovative ideas.

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