A STUDY ON THE IMPACT OF CASHLESS ECONOMY IN INDIA GIVING SPECIAL REFERENCE TO ALAPPUZHA DISTRICT.

finance

This paper intends to study what is the crux of cashless economy and what are its impact among peoples living in Kerala. The study was conducted in Kerala region and data was collected with the help of a questionnaire and the responses was analysed using simple percentage method. The mission of central government to drive India towards a cashless economy was boosted with the announcement of demonetization on November 8, 2016. Responses from respondents shows that it will help in cost reduction associated with printing of cash, risk reduction of stolen, counterfeit’s fake currency, fighting against terrorism, and helps in improving economic growth of our country. Major challenges that can hinder the implementation of the policy are cyber fraud, High illiteracy rate, attitude of people, lack of transparency & efficiency in digital payment system. This paper also intends to analyse the cashless economy and to check whether it helps in the growth and development of economy in India.

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