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Paper Title -  Impact of Demonetisation on Cashless Transaction

Author(s) - 1Ananya Mitra, 2Sonali Rath, 3Jayant Kumar Nayak 


Abstract:

The success of digital commerce undoubtedly depends on the success rate of electronic payment system. Electronic payment modes require a bank account, a device, electricity and connectivity. Jan Dhan has been able to increase the number of bank account holder, but in India, even in urban areas, load shedding is common. Besides high tariff on internet usage there is the issue of weak and broken mobile networks. Under Digital India programme, the government is aiming to make a “Faceless, Paperless, Cashless” India, but it’s going to be long way ahead.  According to Rosenstein-Rodan, the big push model, developing countries cannot achieve greater amount of growth 'bit by bit', they need to adopt one strong and decisive measure to awake the nation from its slumber. Demonetisation is the big push that Paul Rosenstein-Rodans’ model spoke about, for attaining the goal of making India cashless. But for a country which has been using cash for transaction and hoarding purposes, how big the push must be, is the biggest question. Keeping this in mind the current paper tries to analyse the impact of demonetization, through the eyes of banking sector, on cashless transactions in India. The paper makes a comparison on the usage of various electronic modes of payment, before, during and after demonetization. The paper is empirical in nature. Simple statistical tools are used on secondary data to obtain the results. 

 

 

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