Main Article Content
Abstract
Cashless society is not a new concept In India because traditionally the existence of Barter system of exchange was carried out without involvement of cash where transactions were carried out by means of exchange of goods in place of another goods. The present day conception of a cashless country or economy is entirely a new phenomenon where cashless transactions are made with the help of digital technologies and have extended up to the use of digital currencies like Bitcoin.Digital world is on the rise and recent trends shows that digital money which are reserved in mobile wallets will quickly supplant physical cash as well as credits cards. The rapid shifting of Indian economy to a digitalized nation by becoming cashless displays the fact that India by 2025 will be a $1 trillion market for digital transactions, as per the report given by Economic Times on future payments in India.The main objective of this study is to understand the impact of Cashless Economy on various sectors of Indian economy and to identify its challenges. The research paper also attempts to provide valuable Suggestions and policy measures for a move towards digital India.