Study on Introduction of Cashless Economy in India 2016: Benefits & Challenge’s

Abstract

This paper studied the views of people on introduction of cashless economy in India .The study was conducted in Delhi region & data was collected with the help of structured questionnaire and analyzed using simple percentage method.Responses from respondents shows that cashless economy will help in curbing black money, counterfeit's fake currency, fighting against terrorism, reduce cash related robbery, helps in improving economic growth of our country.Major challenges that can hinder the implementation of the policy are cyber fraud, High illiteracy rate, attitude of people, lack of transparency & efficiency in digital payment system.The study shows that the introduction of cashless economy in India can be seen as a step in right direction.It helps in growth and development of economy in India.

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