Step Towards Success: A Cashless India

Author(s):

Dr. Kiran Soni , Geetanjali Institute of Technical Studies, Udaipur ; Mr. Kailash Soni, Rajasthan Vidhyapeeth University, Udaipur

Keywords:

Meaning of Cashless economy, Requirement of cash, Benefits and Challenges of Cashless economy, Obstacles, Promotional Package of Cashless Economy by the Government, Economical Improvement through Cashless Transactions, Scope of cashless India, Steps taken by RBI and Government to discourage use of cash, Future of Cashless economy of India

Abstract:

Cash is like water which is a fundamental necessity, without it survival is typically a challenge. The digital era can be something to embrace, new approaches to payments introduced. But Indians are required to recognize the risks and benefits of various payment modes and instruments, the risks connected with electronic payment instruments are much more diverse and severe. The honorable Prime Minister Narendra Modi acknowledged the actual fact in his monthly radio programme, 'Mann Ki Baat' on Sunday which makes the transition to cashless economy is challenging, and thus urged the general public to plot to 'cashless' society. A cashless economy is equipped with its own harms and threats, most especially the perfect cyber-crime and illegal admittance to private data. And undoubtedly an opportunity of cashless economy is truly a just slightly far off in the meantime. The Jan Dan Yojana is a great step towards that direction.

Other Details:

Manuscript Id	:	RMSCRP039
Publication Date	:	05/04/2017
Page(s)	:	157-162

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