Digital Currency and its Implications for India
Manpreet Kaur · The Management Accountant Journal · 2019
The demonetization of currency in year 2016 by Modi government revolutionized the movement towards usage of digital payment methods in India. Though it was strenuous decision for country like India where 90% of the transactions are in cash, people adopted digital mode of payments in short span of time. The adoption of digital methods for payments is facilitated by phenomenal increase in ownership of smart phones and presence of user friendly payment modes like PAYTM and BHIM UPI. The paper tries to explore the global trends in digital currencies in selected countries and tries to examine the implications of digital currency for India through SWOT analysis.