Demonetisation: a move towards cashless economy in India

Abstract

The objective of the paper is to study the impact of demonetisation on the digitalisation of the cash transactions and move towards a cashless economy in the India. For this purpose data is collected from RBI website on the volume of transactions through debit cards and credit cards for the months of September and October (pre), November and December (during), January and February (after) and May and June (later) demonetisation, for all the banks of India. The statistical technique of paired sample t-test is used to find out whether there is any significant change or not. The results reveal that there was significant change in pre, during and post demonetisation period but not in the later period.

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