A study rising cashless India: Benefits and challenges

Abstract

This paper studied the views of people on introduction of cashless economy in India. The study was conducted in Baghpat region and data was collected with the help of structured questionnaire and analyzed using percentage method, responses from respondents shows that cashless economy with help in curbing black money, reduce cash related robbery, helps in improving economic growth of our country. The challenges that can hinder the implementation of the policy are cybercrime, high illiteracy rate, attitude of people, lack of transparency and 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.