2022, Vol. 3, Issue 1, Part C
Demonetization and its impact on business and finance
Author(s): Preeti Sharma
Abstract: The November 8, 2016 demonetization decision in India generated a lot of demand for alternative money distribution methods and established the ideal environment for the nation to transition to a cashless economy. One of the effects of the demonetization of high denomination bank notes in India in 2016 is that the nation might move closer to having a cashless economy. For a variety of reasons and with varying degrees of success, several nations around the world are experimenting with cashless transactions in one way or another. This paper analyzes end-user perception in the Indian context while looking at international best practices. To better understand the numerous issues faced by consumers who make payments and conduct transactions, survey data is analyzed. What aspects, such as (age, gender, occupation, income levels, and issues), affect a customer's decision to conduct a cashless transaction? What are the main obstacles to doing a transaction without cash? What can the general public, banks and other financial institutions, authorities in charge of regulation, central banks, and governments do to hasten India's transition to a fully cashless society? Examination of these issues is done, and solutions are offered.
Pages: 154-158 | Views: 64 | Downloads: 42
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How to cite this article:
Preeti Sharma. Demonetization and its impact on business and finance. Asian J Manage Commerce 2022;3(1):154-158.