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Abstract
Behavioural economics is a study which focuses on the effects of cognitive, psychological, cultural, emotional and social factors on individual decision making. Individual decisions are always not rational. They are to a large extend affected by various behavioural biases. In 2008, behavioural economist Richard Thaler in his book” Nudge: Improving Decisions on Health, Wealth and Happiness”, popularized a novel development in behavioural economics called ‘nudge’. Nudging alters people's behaviour in a predictable way without restraining them any options or significantly adjusting their economic incentives. With nudging there are more likely chances of an individual choosing a particular option or behaving in a specific way.