The document discusses the concept of a cashless economy and India's efforts to transition towards one. It defines a cashless economy as one where small cash transactions are replaced by digital payment methods like credit/debit cards and mobile wallets. The document outlines steps taken by the RBI and government to incentivize electronic payments, as well as challenges to going cashless in India like limited digital infrastructure in rural areas. Both the benefits of a cashless economy such as reduced costs and time savings and disadvantages such as technical difficulties are presented. The conclusion expresses the view that India is progressing towards overcoming challenges to becoming a fully cashless economy.

1. CASHLESS ECONOMY
Presented by :- Presented to :-
Nishant yadav Mr. Sushant yadav
Class:-MBA assistant professor
Roll no. :- 2264 department of management

2. CONTENT
 What is cashless economy??
 Steps towards cashless economy
 Various E-Payment methods
 Steps taken by RBI and government towards cashless
transactions
 Challenges in India for making a cashless economy
 Benefits of cashless economy
 Difficulties and disadvantages in cashless economy
 Conclusion

3. What is cashless economy??
 Cashless economy is an economy system where small
amount of cash is used in transaction.
 Cashless economy is based on transaction made by
credit cards, debit cards, paytm wallets or digital
modes.
 Cashless economy is cost effective, growth friendly,
business friendly, pro-financial inclusion, etc
 Cashless economy requires robust digitalization.

4. Steps towards cashless economy
 Incentives for encouraging electronic payments.
 Direct benefit transfer of subsides through aadhar
card integration.
 Mandatory use of PAN card in sale transaction of
more than 1 lakh.
 Opening up of various payment banks across the
country.

5. Various E-Payment methods
 Payment banks
 Electronic fund transfer systems
 Mobile wallets
 Internet banking
 Banking cards
 Mobile banking
 UPIs

6. Steps taken by RBI and government
towards cashless transactions
 On digital transaction upto ruppes 2000.service tax of
15% waived off
 Digital purchase of fuel through credit cards, mobile
wallets or e-wallets, discount of 0.75%
 Free accident insurance worth rupees 10 lakhon
account of online ticket buyers
 On purchase of new LIC policies online via its site,
8% discount is offered.

7. Challenges in India for making a
cashless economy
 Transactions are mainly in cash
 ATM use is mainly for cash withdrawals and not for
setting online transactions
 Limited availability of point of sale terminals.
 Mobile internet penetration remains weak in rural
India.
 The low literacy rates in rural India & lack of
infrastructure

8. Benefits of cashless economy
 Reduced printing cost
 Direct benefits transfer of subsidies for LPG,
fertilizers and many more
 Time saving
 To avoid threat of currency
 Environment friendly
 Will accelerate the economic growth

9. Disadvantages in cashless economy
 Technical for comman public
 No room for uneducated
 Cyber crime
 Hacking or identity fraud
 Problem of network in prone areas
 Lot of electricity required to make digital currency
 Bank server issues

10. Conclusion
In my point of view cashless economy is good
for our country it reduces corruption and save
time you can easily pay you don’t need to go
bank. I know some areas don’t have a proper
network connection but India is progressing
day by day. So one day India will be free from
cash and India will become a cashless
economy.

11. Thank you