Cashless economy: A step towards green economy
Indu Gautam, P. C. Kavidayal · Mangalmay journal of management and technology · 2017
The Indian economy is moving towards cashless economy after the demonetization of Indian currency notes on November 8, 2016. The initial awe and confusion has given way to a whole lot of concerns debating the benefits and drawbacks of moving towards a digital market place. The government has come up with a bouquet of discounts and freebies on digital transactions to incentivize the move towards a cashless economy. However the way seems to be difficult as India has a low internet penetration of 34.8% (2016) according to Internet Live Stats and only 26.3% of all mobile users have a smartphone (2015) as per Statista figures.