Cashless Economy (Defination): The cashless economy refer to the flow of currency through electronic channels such as debit /credit card, internet banking, mobile banking, point of sales (PoS) etc. The caseless economic activity usually happens in three different modes namely mobile or e-wallet, plastic money, internet banking. Benefits of cashless economy: 1. Transparency and efficiency : it make your transactions efficient and transparent. 2. Save money and time: One can transfer money from anywhere and anytime. 3. It also provides facilities like online shopping and online education. 4. It helps to remove black money from the Indian economy. It also remove the middleman and help to deposit subsidiary Benefits directly into citizens account. 5. Young population: As per Census 2011 75% of Indian population is below 45 years of age. This young generation is very sensitive to to environment and prefer this fast and smooth transaction,...
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