A TRANSFORMATIVE FORCE: ASSESSING DEMONETIZATION'S IMPACT ON DIGITAL TRANSACTIONS IN INDIA

This research delves into the repercussions of demonetization, particularly the abolition of valuable banknotes, on the prevalence of cashless undertaking across India. Investigating the adoption rates of cashless techniques for instance e-wallets, UPI (Unified Payments Interface), and online banking post-demonetization, using survey data from 500 participants and the utilization of descriptive and inferential statistics. Our findings underscore a notable positive correlation between demonetization and the upsurge in cashless undertaking. Evident increases in e-wallet and UPI usage, alongside a rise in payment gateway transactions, are observed. While factors like gender and marital status demonstrate minimal effects on perceived impact, age and educational attainment exhibit varying degrees of influence. Particularly, individuals with higher levels of education report a more pronounced impact of demonetization on their adoption of cashless undertaking. In conclusion, demonetization emerges as a catalyst for the proliferation of cashless undertakings in India. Nonetheless, persistent provocation for instance security apprehensions and limited digital literacy are persist. Future research endeavours should delve into the enduring effects of demonetization and its ramifications across diverse income brackets.


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