A CASE STUDY ON SUCCESSFUL IMPLEMENTATION OF CASHLESS TRANSACTIONS OF INDIA

A CASE STUDY ON SUCCESSFUL IMPLEMENTATION OF CASHLESS TRANSACTIONS OF

INDIA

HEMALATHA K J, Asst. Prof., Research Scholar, University of Mysore, Seshadripuram College, Bengaluru

Sindhu M M, Associate Professor, Commerce Dept., Seshadripuram College, Bengaluru

Abstract:

On 8th November, 2016 Govt. announced Demonetarization in India, which resulted as a challenge to our economy to transform from cash to cashless movement. At time of demonetarization, India had only 2% of cashless under total transactions. Whereas in Singapore -61%, Netherland -60%, France & Sweden- 59%, Canada- 57%, USA- 45%, Japan- 14%, China-10%. Let us know the main problem of why we are falling back in the race of cashless movement. According to survey of 2017, says that 2/3rd of Indian population lays in rural, which as crabbed our cashless system. Mainly over 93% of people in rural haven’t used any digital transactions so far. Therefore our real problem lies there. Hence, the researcher is presenting this paper by way of qualitative research methodology and has made an attempt to show how cashless transactions are benefited for our society welfare. The study shows examples of people who have accepted and achieved success in their step.

Key words: Cashless, Successful, Case study, Rural India, Digital payments