Cashless Transaction: Modes, Advantages and Disadvantages

The Impact of Cashless Transactions on the Economy

Abstract

The RBI and the Government are making numerous efforts to lessen the usage of coins with inside the economic system with the aid of using selling the virtualcharge gadgets which include pay as you go contraptions and playing cards. RBI’s attempt to inspire those new styles of charge and agreement centers targets to obtain the intention of a much less coins society. With confined coins in hand and an indefinite crunch in sight, maximum humans are speeding to cashless transactions. Digital transactions deliver in higher transparency, scalability and accountability. The new flow will compel extra traders to simply accept virtual cash. Cash may also not be king.