National Seminar on Cashless Economy Problems and Prospects

The basic functions of money in any form in an economy are of transactions, precaution, speculative and standard of differed payments.  Developing countries in general and India in particular, before and after independence, use metal and paper currency more to discharge the functions. Hence, it is a cash economy. In the wake of the decision made by the Prime Minister Mr.  Narendra Modi to demonetize high value currency note of denominations 500 and 1 000, the Indian Economy faced a setback. The population of India is highly habituated to cash transactions in both formal and informal financial sectors. The biggest  problem with India is that 70% of the population  including literate groups opt for monetary  transaction and are reluctant to use cards for  payment owing to various security reasons and  operational inconvenience,  Cashless payment can be defined as a transaction  performed without using coins and notes but  instead using credit/debit cards or other electronic  modes of payment. When all the transactions of the country are cashless, it becomes a cashless economy. 


National Seminar on Cashless Economy Problems and Prospects
However, in a country like India, where majority of the people are illiterate and are unaware of the developments taking place in the use of technology for ease in the day to day transactions, it is very difficult to achieve CASHLESS ECONOMY in the near future. Keeping in view the current situation, the Reserve Bank of India (RBI) has stepped up measures to promote digital payments and to make India a CASHLESS ECONOMY, to achieve this goal, there is a need to spread the message across various communities of the economy. In this backdrop, the Aurora's Post  Graduate College planned to organize a seminar  on "CASHLESS ECONOMY: PROBLEMS AND  PROSPECTS" to invite experts from industry,  academics and research organizations to discuss  various problems associated with the concept and  to deliberate on the prospects of cashless economy.  
Name of Conference
National Seminar on Cashless Economy Problems and Prospects
ISBN NO. for Print Proceedings of Conference
978-81-933393-2-9
Barcode of ISBN no.
 

Publisher of Print Proceedings of Conference Papers
Edupedia Publications Pvt Ltd, New Delhi
Date of Conference
February 2017
Venue of Conference
Aurora's Post Graduate College, Ramanthapur, Hyderabad, India
Conference Organizers Name and Details 

Dr. M. Madhavi
Phone (Inc. Area code)

9100000223
Mobile
9100000223
Email
e.devender.rao77@gmail.com
Address
Aurora's Post Graduate College, Ramanthapur, Hyderabad.Hyderabad.
State
Telangana
District
Hyderabad
Pincode
500005




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