The document discusses India's goal of becoming a cashless economy through reducing dependency on cash and increasing digital transactions. It was launched after the 2016 demonetization that removed Rs 500 and Rs 1000 notes from circulation. Cashless transactions can be done through methods like debit/credit cards, online transfers, mobile wallets, etc. While it has advantages like reducing black money, the question remains if India can fully realize the dream of becoming cashless given challenges with education and technology adoption in some parts of the population. Education campaigns and helping more merchants accept digital payments may help increase cashless transactions but complete conversion may not be possible.

2. CONTENT
Introduction
 Cashless economy
 What was the reason behind
demonetization.
 Method of cashless transaction
 Advantages and Disadvantages
 Question is that cashless India : Dream or
Reality?
 Conclusion

3. INTRODUCTION
CASHLESS INDIA : DREAM OR REALITY
Cashless India is a mission launched by the Government of India
led by Prime Minister Narendra Modi to reduce dependency of
Indian economy on cash and to bring hoards of stashed black
money lying unused into the banking system. The country
embarked upon this transition to a cashless economy when the
government took the revolutionary step of demonetization of old
currency notes of Rs 500 and Rs 1000 on November 08, 2016.

4. Cashless Economy
•A cashless economy is a system where any type of
money transactions are done through digital means
like debit cards, electronic fund transfer, mobile
payments, internet banking, mobile wallets, and other
newly evolved payment channels, this will leave very
little scope for flow of hard cash in economy.

5. WHAT WAS THE REASON ?
The reason given by PM Mr. Modi was:
 To tackle black money in the economy.
 To lower cash circulation in the country
which is directly related to corruption in our
country.
 To eliminate fake currency and dodgy funds
which have been used by terror groups to
fund terrorism in India.
 The move is estimated to scoop out more
than Rs.5 lack crore black money from the
economy .

6. Method of cashless transaction
1. Cheque
The cheque is one of the oldest methods of cashless payment. It
is a known method to everyone.
2. Demand Draft
Demand draft is another rudimentary way of cashless
transaction. It is a safest option to receive payment from anyone.
Demand draft (DD) never gets defaulted as it is signed by the
banker.
3. Online Transfer
The third simplest method for the cashless transaction is
online transfer. In order to do online money transfer, you
need internet banking facility. Online transfer using NEFT or
RTGS is comparatively faster than cheque or DD. Online
transfer can be done from anywhere using internet facility.
4. Credit Card or Debit Card
Credit card or debit card is another cashless payment
method. The usage of credit card and debit card was limited
in India.

7. . 5.Mobile Wallets
The next cashless payment method is a mobile wallet. You do not need a debit
card, credit card or internet banking password for making payment using a
mobile wallet. Just load money in your wallet via IMPS and use it on the move.
You can download mobile wallet app from play store. Few examples of mobile
wallets are Paytm, PayUmoney, Oxigen, Lime, MobiKwik etc.

8. Advantages
•To avoid black money transactions.
•To avoid time consuming and criminal activities.
•It helps to economic growth, increasing security, reduce
illegal business, and effective transactions.
•If the Govt. finds a person guilty Govt. can easily block
his/her transaction. And Govt. can control the financial
transactions in the society.
•Easy to handle and environment friendly.
Disadvantages
•Higher risk of identity theft.
•Losing Phone or gadgets.
•Difficult for tech.
•Failure rates.

9. THE QUESTION IS STILL HERE
CASHLESS INDIA : DREAM OR REALITY ???
While India is trying to take step towards digital, it has a long
way to go. Sweden, South Korea, Denmark, Canada have high
percentage of cashless transactions—as high as 75-85%.
Norway has stopped cheques. Of course, these countries are
either smaller, or have a more educated population, higher
penetration of organized retail and higher awareness about
digital than India The problem may also be that more often than
not users are being pushed to pay digitally and not the
merchant to accept digital payments. You can’t just say go for
digital and not educate villagers, the smallest of kirana
storeowners or cloth merchants to adopt cashless payments.
points to lack of habit and trust, security and safety standards
along with the absence of a fast, reliable dispute resolution
system that ensures people don’t abandon cash totally.

11. CONCLUSION
However, the benefits of this move have now started trickling in
with more and more people switching to digital modes of receiving
and making payment. India is gradually transitioning from a cash-
centric to cashless economy. Digital transactions are traceable,
therefore easily taxable, leaving no room for the circulation of black
money. The whole country is undergoing the process of
modernization in money transactions, with e-payment services
gaining unprecedented momentum. A large number of businesses,
even street vendors, are now accepting electronic payments,
prompting the people to learn to transact the cashless way at a
faster pace than ever before.
But still cashless India is the question for illiterate people in
India, some villagers, senior citizens. Govt. should organized
campaign or gave education about cashless transaction then it
might be possible to turn the people in digitalism but it will not
possible 100%.

12. THANK YOU