• Sangeeta Malik

During the decade of 1990’s, the growing popularity of electronic banking made the use of non-cash or cashless dealings and settlements common among the residents of some of the most technologically advanced nations of the world. Digital payment methods became well established in countries across the world by the 2010’s. Indian economy is demonetized in 1946,1978 and 2016.On 8th November 2016, when demonetization is done, the Indian economy is to shift from cash to cashless economy i.e., a world of cash free dealings where coins and paper currency were replaced by digital currency (bits and bytes) and spending, earning, investing get efficient using smartphones. The objectives of which were to curb black money and digitalization of the economy. Cashless economy focuses on the reduction of quantum of cash operating in the system. It also shifts the economy to digital economy. As a result of demonetization, the number of digital transactions increased from 87 crores in August 2016 to 138 crores in August 2017 an increase of 58%. Digital platforms like Paytm faced a twofold upsurge. Advantages of cash: cash is interchangeable, no merchant cost, language compatibility etc. Disadvantages of cash: inconvenient to carry, expensive to print etc. Cashless options: Mobile Banking, Mobile wallets, NEFT, IMPS, UPI, USSD world moving towards less cash: Sweden, Norway, Denmark, Kenya, Canada.

keyword1: Demonetization, keyword2: Digital payments, keyword3: Cashless Economy

"Issues with E-Cash", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 7, page no.675-678, July-2018, Available :http://www.jetir.org/papers/JETIR1807452.pdf

"Issues with E-Cash", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 7, page no. pp675-678, July-2018, Available at : http://www.jetir.org/papers/JETIR1807452.pdf