Presentation on Is India ready to go Cashless?

This presentation is all about giving an idea about the cashless economy. This is mostly popular after demonetization. This ppt gives an information about the pros and cons of the cashless economy.

1. PRESENTATION ON is india READY TO GO CASHLESS ? PRESENTED TO: MANAGEMENT DEPARTMENT PRESENTED BY: REKHA RANI MBA (2 nd Sem.) CT INSTITUTE OF MANAGEMENT AND INFORMATION TECHNOLOGY , JALANDHAR

2. INTRODUCTION A cashless economy is one in which majority of monetary transactions occur electronically through debit cards, credit cards, net banking etc. And the physical cash circulation is minimum. Cashless economy has benefits of prevention of money laundering, deter shadow economy, increase tax base and compliance and convenience for customers.

3. India is on its path to reach its goal of a shadow economy but it needs to overcome certain bottlenecks to achieve the aim: 1. Infrastructure: India needs to develop physical infrastructure in the form of ATMs, broadband connectivity and increase the penetration of smart phones in the rural areas. 2. Digital literacy and behavioral change: Major chunk of the Indian population is unable to utilize digital tools as they lack the knowledge to utilize them. Behavioral inertia in preferring cash transactions over digital transactions also needs to be overcome.

4. 3. Security : In light of recent cyber security attacks on debit cards and credit cards, india needs to develop a robust cyber security firewall to counter such threats. 4. High unbanked population: A chunk of our population is still unbanked. Many accounts opened under recent Jan Dhan Yojana lack minimum balance and are inactive. 5. Poor smart phone penetration: Only one-fifth Indians use smart-phones, which is a pre-requisite for day-to-day electronic payments & transfers. 

5. But their are some reasons which says india can go cashless today like 1. Corruption- Black money storage , counterfeit currencies in market has alerted Indians. 2. Economic- Urbanization, increase in phones, digitization and other electronic devices.

6. 3. Political- Recent withdrawal of currencies ,co-operation from private, NGO's and other public institutes etc. 4. Ease inflation and bring down prices  of sectors like real estate. 5. More companies/startups  are coming up in the finance sector to promote the cashless economy.

7. CONCLUSION However number of Cashless Transactions have Increased Drastically. Specially youth is supporting cashless economy. India does not seems ready to go for fully cashless but partial cashless is also an option to adopt in current situation. Rural settlements' inclusion in this process will make the process faster. India could well use the example of countries like Denmark and Sweden which have managed to go completely cashless.