Today, the most important agenda in Banking Industry in India is Digitalization. At Present time, Every Person is using Electronic Banking somewhere through some Medium. The maximum use of Online Banking and Mobile Banking has been possible only due to the Demonetization. Demonetization is a process of Stripping Currency unit of its status as Legal Tender. On 8 November 2016, Honorable PM Narendra Modi announced the Demonetization of all Rs. 500 and Rs. 1000 Banknotes. According to RBI report 2018, of India survey 99.3% of the Demonized Banknotes or some Rs. 15.3 trillion of the Rs. 15.4 Lakh Crore of the Demonized were deposited back with the Banking Industry. Its impact is felt by every Citizen of the India, and saw the rising uses of Online Banking, Mobile Banking and other Electronic payment. The objective of the Research paper is to Examine and Analyze the Growth of Online Banking & Mobile Banking usage after Demonetization and its Impact in India. This Research Paper also highlights how the Indian Economy is moving towards Cashless Society.

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Keywords: Demonetization, Online Banking, Mobile Banking, Electronic Payment System & Cashless Economy.