Cashless Economy in India: Challenges Ahead
- Aslam Hasan Department of Commerce, Aligarh Muslim University, Uttar Pradesh, India
- Mohammed Atif Aman Department of Business Administration, Aligarh Muslim University, Uttar Pradesh, India
- Mohd Ashraf Ali Department of Commerce, Aligarh Muslim University, Uttar Pradesh, India
In an attempt to curb-out black money, money laundering, and to have a sound economy, the central government of India has embarked on the cashless economy. It is the birth of a new era in the nation with life with digital money. This paper is going to conceptualize the meaning of a cashless system, explains online banking techniques in India, schemes by government to spread the cashless system in India and highlights the challenges of the cashless economy and electronic payment systems. The objective of this study is to examine the significant challenges that are faced by Indians on the way towards cashless. To achieve the objectives of this exploratory type of personal study, interviews will be conducted.
Copyright (c) 2020 Aslam Hasan, Mohammed Atif Aman, Mohd Ashraf Ali
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The main advantage of a cashless society is that a record of all economic transactions through electronic means makes it almost impossible to sustain black market or underground economies that often prove damaging to national economies, acc...
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The sample methodology in a research paper provides the information to show that the research is valid. It must tell what was done to answer the research question and how the research was done.
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