• Debasish Naskar

The world in which we are living is continuously on the move. It is changing every day and in every aspect and consistently compelling us to change the way we live. Every now and then creates hell and heaven difference with new invention. With each passing day we are becoming more and more dependent on technology. In this era of digitalisation, cashless economy has a great scope in India. Demonetization has thrown a challenge to every citizen in terms of limited cash which has provide a base to opt for cashless mode. The proposed study focuses on the impact and importance of cashless economy and its hurdles in India. Cashless economy will reduce cash related robbery thereby reducing risk of carrying cash. Cashless economy helps in modernization of payment system, Reduction in high security and safety risk, Reduction in the cost of banking service and also curb banking related corruption. It will also reduce cash related corruption and attract more foreign investors to make investment in the country. Electronic banking system makes banking transactions easier by giving services closer to its customers hence improving banking industry performance. But, the financial safety over the digital payment channel must be conformed for fulfilment of cashless economy.

Cashless Transactions, Demonetisation, Information Technology, Economic Growth, Financial Literacy, Cyber Security.

"CASHLESS INDIA: JOURNEY OF A NATION", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 4, page no.578-584, April-2019, Available :http://www.jetir.org/papers/JETIR1904O94.pdf

"CASHLESS INDIA: JOURNEY OF A NATION", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 4, page no. pp578-584, April-2019, Available at : http://www.jetir.org/papers/JETIR1904O94.pdf