Can India go Cashless Essay : India being one of the developing countries is still in the phase of introducing complete digital or online transactions rather than cash transactions system.
Government of India has taken various steps to introduce the digital transaction system by demonetization and introducing digital India program on mass scale. However the Government is still not able to evade the cash transaction system and completely introduce the digital system.
Several reason due to which the Government has not been successful to make India go cashless, one of the major reasons is high level of corruption at various level of the country. The high level of corruption has made it very difficult for India to go completely cashless as most of the corrupt practices involve high value cash transaction, without which such practices cannot be carried out.
Second major reason for India not being able to go completely cashless is due to lack of digital transaction facilities or lack of digital bank system in remote villages where cash still is being used for all transactions. Most of the villagers are also not yet educated or unaware of the digital transaction system or do not have the required facilities to enable them to go completely cashless.
Another major reason is lack internet connectivity or network connection makes it difficult to bring in digitized monetary system completely.
However, Government of India to a certain has brought quite major changes and facilities in the banking system. As many apps like gpay, paytmetc have been introduced making it easier for an individual to transact online with his mobile phone, with certain limits to transactions. This does not require one to go to the bank physically with cash and make a transaction, but can be done at his own home or work place.
Government of India has introduced digital monetary system in certain remote villages as well to certain extent by helping vendors to accept payments through online modes rather than cash.
India is still in the phase, yet to go completely cashless however due to high level of corruption India is still lacking behind to go completely cashless.
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