Improving Indian economy’s dependence on cashless economy is desirable for a variety of reasons like curbing corruption and improved economic performance. This article focuses on impact and importance of cashless economy and helps in understanding the Factors that determine transition to a cashless economy. This article also examines the advantages of cashless economy and efforts that government has put towards cashless economy. This article is based on secondary data collected from government reports, magazines and newspapers.

KEYWORDS:  Cash Centric Economy, Demonetization, Digital Payments.