A Study on the Impact of Digitalisation towards Cashless Economy in India

Government of India had launched Digital India program with the aim of transforming the entire nation into a digitally empowered society and knowledge economy. Cashless, paperless economy is one of the perceived roles of Digital India movement. Different digital modes for financial payments are available still India continues to be driven by the utilization of money. Reason being there's nothing truly compete with the pliability of money. Government of India has taken initiatives to drive card transactions and cashless payments which posted healthy growth over the last couple of years subsequent to the government’s demonetization initiative in November 2016. Although the expansion in mobile payments, card transactions continue to be the hugest driver of cashless payment transactions. In this article, an attempt has been made to study about digital transactions with cashless economy and expansion of digital transactions in India.