International Research journal of Management Science and Technology

  ISSN 2250 - 1959 (online) ISSN 2348 - 9367 (Print) New DOI : 10.32804/IRJMST

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METAMORPHISING A CASH ECONOMY: THE ARRIVAL OF ALTERNATIVE MODES OF TRANSACTIONSIN INDIA

    1 Author(s):  MAHIMA RANA

Vol -  9, Issue- 1 ,         Page(s) : 400 - 407  (2018 ) DOI : https://doi.org/10.32804/IRJMST

Abstract

November 8, 2016 will go down in the annals of Indian Economy as a watershed mark. Demonetization set in a situation where legal tenders became scarce and economy was compelled to catch up its snail-pace by resorting to cashless transactions. India was at the crossroads and there wasn’t much choice but to adopt digital modes of payments. Gradually, with the inflow of revised legal tenders, people returned to use of cash but those who got a chance to utilize digital modes found it safer, more convenient, and hassle free as compared to use of currency.

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