CASHLESS ECONOMY (A COMPARATIVE STUDY OF INDIAN ECONOMY WITH OTHER LESS CASH ECONOMY)

Abstract

It is more vivid that Indians are slowly catching the cashless syndrome. With a cashless economy in the coming future, there are many benefits, as well, as it has its own share of negative implications. A cashless economy somehow scotch the possibility of unclean transactions and encourages new ways of payments through electronic mode which is more convenient & easy to keep track of all the transaction. This paper studies and compares the Indian economy (recently moved towards less cash transaction) with other economies such as Singapore, Netherlands, and France etc. which have become the synonyms for cashless countries. The paper also covers the benefits reaped by the cashless countries with concerning limitations of getting cashless & finally presents the idea of the possible way of making the world’s second largest populace country into one of the world’s largest cashless economy.