Internet Citizens, Cashless Economy and Scope of Financial Inclusions

Dublin Core

Title

Internet Citizens, Cashless Economy and Scope of Financial Inclusions

Subject

Digital Inclusion
Perception of Corruption
Internet markets

Description

A cashless economy is one in which all the transactions are performed using cards or by digital means. In India demonetization of currencies, digitalized (cashless) transactions are promoted in order to give a fillip to a cashless economy. Bank connectivity is a must for digital transactions. Strict enforcement of digital transactions will rapid the process to ensure financial inclusion in a time bound manner. Rush to the cashless economy or digital money system has its merits and certain demerits if you are not alert. One of the most important aspects is that it will pave the way for universal use of banking services. It will minimize the use of physical currency in circulation. Lower liquidity in cash supply may force the parallel economy to become limited in size. Real estate, fake currency, drug smuggling are going to be reduced considerably. The most important question is how to make a smooth transition so that financial inclusion is more efficient and in all segments of the economy. This paper analyses the penetration of the internet, internet and digital payment market, explore the possibility of going cashless with financial inclusion in India.
DOI: 10.5281/zenodo.3874041

Creator

Panda, Prashanta Chandra

Source

Liberal Studies; Vol. 4 No. 2 (2019): July-December 2019; 209-217
2688-9374
2455-9857

Publisher

Pandit Deendayal Energy University

Date

2019-12-31

Rights

Copyright (c) 2019 Pandit Deendayal Petroleum University, India
https://creativecommons.org/licenses/by-nc-nd/4.0/

Relation

Format

application/pdf

Language

eng

Type

info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article

Identifier

Collection

Citation

Prashanta Panda Chandra, Internet Citizens, Cashless Economy and Scope of Financial Inclusions, Pandit Deendayal Energy University, 2019, accessed November 21, 2024, https://igi.indrastra.com/items/show/579

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