The document discusses India's transition to a digital and cashless economy through initiatives like Digital India and demonetization. It outlines the benefits of a cashless economy such as reduced costs, improved efficiency, and transparency. It then describes various digital payment methods that are enabling India's journey towards becoming a cashless society, including banking cards, USSD, UPI, mobile wallets, internet banking, and micro ATMs.

1. DIGITAL INDIA
CASHLESS INDIA
-by YASHU KUMAR

3. | DIGITAL INDIA
• ‘Digital India’ was launched in July 2015 by government of India.
• This is started with the aim to achieve three interconnected goals:
• Availability of high speed internet to each and every citizen.
• To make all government services accessible to the common man through E-Governance.
• Digital Empowerment of citizens.

4. BENEFITS OF CASHLESS ECONOMY
• Reduces Maintenance Costs
• Transparency in Transactions
• Reduces Risk
• Improves Efficiency
• Lower Transaction Costs
• Save Time
• Innovate & Transform

5. FACELESS
CASHLESS
PAPERLESS

6. JOURNEY TOWARDS CASHLESS INDIA
| DEMONETIZATION effects |
• 8th November 2018 was an eventful day for Indian Economy.
• withdrawal of 86% of Indian currency by demonetising Rs. 500 and Rs. 1000 notes.
• shortage of cash in the market and Indian financial system.

8. | TO A COUNTRY
•Positive Impact in an Economy and its Growth
•Reduction of Black Money
•Crime Control
•Anti-Money Laundering & Tax Avoidance

9. | TO A COMPANY
•Reduces Queuing Times
•Eliminate cash handling costs
•Less Accounting
•Reduces physical risk
•Helps in management information and Decision Making

10. | TO AN INDIVIDUAL
•Ease of Transaction
•No fear of Burglary or Theft
•Track on spending and receipts
•Consumer Discounts and Waivers

11. DIGITAL PAYMENT METHODS

12. BANKING CARDS
• Offers more security, convenience, and control
• Cards including-Credit, Debit, & Prepaid
• Authentication for secure payments-secure PIN and OTP
• Saves both customers and merchants’ time and money
• Ease of transaction
• Examples-RuPay, Visa, MasterCard

13. USSD
• UNSTRUCTURED SUPPLEMENTARY SERVICE DATA
• No need to have mobile data facility
• Avail this service to every common man
• Providing Services-
• Balance Enquiry
• Mini Statement
• Account Fund Transfer
*99#

14. AEPS
• Bank led model
• Allows online interoperable financial transaction at PoS
• Providing Services-
• Cash Withdrawal
• Cash Deposit
• Balance Enquiry
• Aadhaar to Aadhaar Fund Transfer
• Mini Statements
• Fingerprint captured during their enrollment

15. UPI
• Unified Payments Interface
• Merges multiple bank accounts into a single mobile application
• Secured, convenience & Ease to use
• Providing Services-
• Online Payment Services
• Money Transfer
• Financial Services
• City Services
• Recharge & Bill Payment
• Smartphone with Internet Facilities

16. MOBILE WALLET
• Carry cash in digital format
• Needs to be transferred from your bank account to a wallet
• Examples-
• PayTM
• Airtel Money
• PhonePay
• FreeCharge & many more…
• Scan & Pay
• Secured through MPIN authentication

17. INTERNET BANKING
• Provides a range of Financial Transaction
• Types of online financial transactions :
• NationalElectronicFundTransfer(NEFT)
• RealTimeGrossSettlement(RTGS)
• ElectronicClearingSystem(ECS)
• ImmediatePaymentService(IMPS)
• Provides High Security
• Authentication requires

18. MICRO ATM
• Micro platform through low cost devices
• Enable a million Business Correspondents(BC) to conduct instant transactions
• Enable a person to instantly deposit or withdraw funds
• Secured through authentification
• Need to do is verify the authenticity of customer using customers’ UID