Cashless India: A Digital Revolution

Authors

  • Avinash Singh Solanki Vivekananda Global University, Jaipur, Rajasthan, India
  • Prince Pandey Vivekananda Global University, Jaipur, Rajasthan, India
  • Mukul Yadav Vivekananda Global University, Jaipur, Rajasthan, India
  • Suraj Maity Vivekananda Global University, Jaipur, Rajasthan, India
  • Babby Kumar Vivekananda Global University, Jaipur, Rajasthan, India

Keywords:

Mobile wallets, UPI

Abstract

In the wake of the 21st century, nations globally are navigating a paradigm shift from traditional economies to digital landscapes. "Cashless India" stands as a testament to India's ambitious endeavor to redefine its economic infrastructure, leveraging digital technologies to reduce reliance on physical currency.

The journey towards a cashless society in India commenced with a landmark decision in 2016: demonetization. Overnight, high denomination currency notes were invalidated, sparking both controversy and anticipation. This audacious move aimed to curb black money, encourage transparency, and pave the way for a robust digital financial ecosystem.

A pivotal aspect of this initiative is the promotion of digital payment methods. Mobile wallets, UPI (Unified Payments Interface), and digital banking gained prominence, fostering a convenient and efficient means of financial transactions. The government, in collaboration with the private sector, initiated campaigns and incentives to encourage individuals and businesses to embrace these digital avenues.

Keywords: Mobile wallets, UPI

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Published

2024-02-15

How to Cite

Solanki, A. S. ., Pandey, P. ., Yadav, M. ., Maity, S. ., & Kumar, B. . (2024). Cashless India: A Digital Revolution. International Journal of Engineering Science and Generic Research, 10(1), 14-21. Retrieved from https://www.ijesar.in/index.php/ijesar/article/view/203

Issue

Vol. 10 No. 1 (2024): January-March

Section

Articles

License

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Creative Commons LicenseInternational Journal of Engineering Science and Generic Research (IJESAR) by Articles is licensed under a Creative Commons Attribution 4.0 International License.