A Review on the Importance of Cashless Transactions

Author(s)

Dr. Masood Hassan , Gohar Ali , Malik Irfan Ahmed ,

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Volume 11 - February 2022 (02)

Abstract

In this period of digitization, the significance of cashless transaction has an exceptionally wide extension around the globe. Demonetization has tossed a test to each resident of several counts as far as restricted money which has given a base to select to credit only mode. Individuals from different regions viz., Agriculture, Business, government associations, private associations needs to pick credit only exchanges which may diminish the expense of cash printing, providing cost, and different other functional expenses. On the off chance that each resident chooses credit only exchange, it may prompt straightforwardness and responsibility. Onus lies on government, banks, dealers, financial specialists, specialized staff and individuals for the best result. Encouragement from the public authority is needed as far as a motivator system on the off chance that the individual does the credit only exchanges.

Keywords

Cashless transactions, transparency, Demonetization, incentive framework, Credit only exchanges, straightforwardness, Demonetization, motivator system.

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