Cashless Economy is characterized as monetary frameworks where there are practically all exchanges are performed through computerized strategies with minimum utilization of cash. Cashless economy doesn't mean total nonappearance of cash. In India on 1st July 2015 Digital India Programme was launched by government of India to make “faceless, paperless, and cashless” India. There are different cashless exchange strategies, for example, Debit cards, Credit cards, E-Wallets, ATM , Internet banking moves, AADHAR Enabled Payment System (AEPS), Unified Payment Interface (UPI), Checks, Demand drafts, NEFT and RTGS moves and, E-money coupons. This paper studies the idea and current situation of cashless economy in India. This paper will also study the difficulties and advantages of cashless economy.
KEYWORDS: Cashless Economy, Electronic Payments, Cash Less Transaction, Debit Card.
