The presentation discusses India's potential transition to a cashless economy, highlighting both the advantages and challenges. Key obstacles include inadequate infrastructure, low digital literacy, security concerns, a large unbanked population, and limited smartphone penetration. While cashless transactions are increasing, the country may not be fully ready to go cashless yet, but adopting a partial cashless model could be feasible, particularly with rural inclusion.

1. PRESENTATION ON
IS INDIA READY TO GO
CASHLESS ?
PRESENTED TO:
MANAGEMENT DEPARTMENT
PRESENTED BY:
REKHA RANI
MBA (2nd 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.